Guilford County properties could see their total assessed values grow on average by more than 40% as officials continue the revaluation process.
The Tax Department is currently reappraising more than 200,000 properties. According to officials, the county’s sales ratio — a formula that looks at assessed value versus recent sale prices — was below the state requirement and triggered the process sooner than usual.
Guilford County Tax Director Ben Chavis told commissioners at a recent retreat that the average increase is expected to be between 40 and 45%. But the number is not a guarantee of what any individual homeowner or business will see.
“When you got an overall average like this, or overall percentage to the real estate base increasing, people are going to be impacted differently based on the market area that they are in," he said.
Chavis said property values increased by an average of 30 to 35% during the previous revaluation in 2022.
Residential values are expected to be mailed on Feb. 17. The appeal period will end on May 15.
