As of October 2016, cars with a sticker on them which reads Chatham County Revaluation may be seen around Pittsboro. Some people have reported them driving around on private roads and up in to people’s driveways and properties.
What is revaluation?
According to ChathamNC.org, “It is a state-mandated process to update the assessed tax value of each property so that it is consistent with the current market value, as of January 1, 2017 Revaluation helps ensure a fair and equitable distribution of the tax burden.”
Are these assessments accurate?
A tax value is not a true market value. For example, there are properties near Chatham Park which land owners are sitting on which may sell for 500% of the “assessed market value”.
Chatham County will be mailing out their new assessed value to property owners February 2016.
