Look for notice of property tax reevaluation in your mailbox soon

Price hikes reflect growth over the past four years  On Feb. 1, the Forsyth County Tax Assessor’s Office started sending out letters notifying property owners about the 2025 reappraisal process. And if you live in Winston-Salem, chances are you will see a significant increase in property taxes. In years past, the highest increase was around 50%. This year some will see their taxes go up by more than 300%.   In North Carolina, counties are required to conduct a real estate reappraisal at least once every eight years. Since the mid-1980s Forsyth County has done reappraisals every four years. “As the real estate market changes over time and as we get further away from the reappraisal, then there becomes an imbalance in the property tax system,” said John Burgiss, Forsyth County tax assessor and collector.   “The whole purpose of a reappraisal is to simply bring all four types of property that we tax into 100% of fair market value so that everybody is paying their fair share.”  If the sales ratio or assessment levels falls under 100%, it means the market has increased.  As a guide, appraisers analyze qualified sales to understand the real estate market, then make necessary adjustments to...