Cash for House Asheville NC · 828-490-7535
Buying: Homes. Land. Mobiles. Foreclosures.

Home values up 35% from 2013 (AVL); taxes could increase

The last countywide appraisal was done in 2013, when the market had bottomed out but stabilized, according to Keith Miller, real estate manager at the Buncombe County Real Estate Assessment Office. Miller said actual property taxes and the bills don’t go out until June and are not calculated yet. But he said Asheville homeowners will likely see their property taxes go up, although it’s not clear by how much.

Miller said the county tax rate is being adjusted, which will prevent drastic increases.

“I think some will have sticker shock,” Miller said. “I think many of our citizens don’t keep up with the real estate market.”

The office has released maps that indicate specific neighborhoods have seen significant increases in home values from 2013. Montford home values on average have risen 38 percent, while home values in North and West Asheville have had an average increase of 40 percent.

Oakley has posted increases of 31 percent. And a pocket of downtown Asheville has seen condo sale prices rise by 40 percent.

Alternatively, some areas in the county could see property taxes go down because the overall tax rate will be adjusted countywide for property owners. Fairview homeowners have seen home prices rise by 15 percent, but Sandy Mush homes have increased overall by 3 percent.

Jeff Greiner has owned a home in South Asheville for more than 15 years. He’s using equity in his home for his business.

“I certainly have seen our property value go up in a recent appraisal that we had on our property,” Greiner said.

“It’s inevitable that our taxes our going to go up,” said Terry Tincher, real estate manager at Sotheby’s in Biltmore Village. But Tincher hopes property taxes won’t increase so much that it discourages buyers.

“A lot of people coming into this area, say ‘I’m coming from New Jersey and I want to come into the Asheville market because I don’t want to pay those rates,’” Tincher said.

Miller said the new interactive map goes live online on Thursday. The site will show parcels and recent sales of homes and lots and commercial properties. Home appraisals will go out next week in the mail. Tax bills will go out this June. Homeowners are welcome to appeal tax bills but must present convincing evidence to show the value is incorrect. The website will also have information on the appraisal process.

Property Appraisal Information:

  • Home Appraisal website (goes live Thursday 1/26/17)
  • Buncombe County Real Estate Office: 828-250-4940
  • Address: 94 Cox Avenue Downtown walk-in customers welcome (park in lot across the street)

via http://wlos.com/news/local/asheville-home-values-up-35-from-2013-taxes-could-increase by Kimberly King Wednesday, January 25th 2017