I recently read an interesting article in the Smoky Mountain News about property valuations in Western North Carolina.
Evidently, Macon County officials may decide to postpone their property valuations from 2013 to 2015.
Macon County includes the communities of Flats, Franklin, Highlands, Smithbridge, and Sugarfork.
Continue reading to learn more about why officials are considering delaying the revaluation – and how it may affect Highlands area home sellers.
Highlands, NC Homes for Sale
According to the recent article, the proposed delay in revaluations is in response to the sluggish housing economy.
According to Macon County’s tax assessor, not enough properties have been sold to new owners to create meaningful property value levels.
What’s more, inaccurate property revaluations may result in a lot of property value appeals from residents, which could be costly to the county.
It’s the county’s hope that if they wait to complete the county-wide revaluation, more Macon County properties will change hands between buyers and sellers, creating for a more accurate reading property values county-wide.
Macon County’s proposed response to the sluggish economy is a stark contrast to Jackson County’s.
Jackson County includes the communities of Cashiers, Scotts Creek and Webster.
Jackson County is still planning to move forward with its property revaluations in 2013, even though the county has a similar housing market as Macon County.
The last time Jackson County and Macon County did their property revaluations was in 2008 and 2007 respectively.
According to state law, every county must complete a property revaluation at least every 8 years.
Your Highlands, NC Area Real Estate Experts
In Macon County, commissioners are expecting that property values on more expensive homes and undeveloped land will decrease while property values on the homes in the $150,000 range will increase.
The proposed delay on property revaluations may actually be good news for those Highlands area home sellers who own high-end homes.
After all, property valuations is a good point of reference for many Highlands area home buyers trying to decide how much they’re willing to pay for a home.
Thus, if property values on higher-end homes are expected to decrease after the next property valuation, it behooves Highlands area home sellers to sell their home before that revaluation happens.
As your Highlands area real estate expert, I’ll work hard to sell your home in as little time as possible for the best price possible.
I’ll also provide you with a number of helpful Highlands area home selling tools to help you navigate the market. These include:
Until next time,