How will property values be determined?

The 2009 property appraisal will be conducted by employees of the Alamance County Tax Department.  Our appraisers are experienced, real property “Ad Valorem” tax appraisers certified by the North Carolina Department of Revenue.  Our appraisers verify and update the county’s property data files by making an onsite visit to your property. 

Keep in mind that the appraiser does not “set” value; he or she simply researches the values that have already been established by buyers and sellers in the local market.  The appraiser applies knowledge of the local market.  They will use proven methods and procedures for analyzing comparable properties while considering the many factors affecting value, and will use the current “Schedule of Values” approved by the local Board of County Commissioners to arrive at a value.  Your property should appraise at the price of comparable properties on the market, plus or minus adjustments for differing factors.

In other words, if a 1200 square foot, 3 bedroom, 2 bath brick house with an attached garage recently sold for $115,000; then another 1200 square foot, 3 bedroom, 2 bath brick house with an attached garage should also be able to sell for a similar amount and thus will probably be valued at $115,000.