Bill to pause Buncombe County property reappraisals advances to NC governor

BUNCOMBE COUNTY, N.C. (WLOS) — A North Carolina bill that would halt this year’s home reappraisals in Buncombe County has passed both chambers of the General Assembly and is headed to the governor for final action. The measure would also pause new property tax revaluations in several other counties.

Even if the governor vetoes the measure, political experts say supporters likely have enough votes to override that veto and enact Senate Bill 889, known as the Property Tax Reappraisal Moratorium. The bill would halt new property tax revaluations not only in Buncombe County but in several other counties across the state.

BUNCOMBE COUNTY SEES THOUSANDS OF PROPERTY TAX APPEALS AMID SHARP VALUE SURGE

The legislation comes after Buncombe County completed its latest property revaluation. The average Buncombe County home is now assessed at about $500,000 for tax purposes, up from an average assessed value of roughly $350,000 before the revaluation. The change translates to more tax collection for the county to run government and public services.

Republicans, who hold majorities in both chambers of the legislature, say SB 889 is intended to protect homeowners from rapidly increasing tax bills tied to rising property values.

“Clearly it’s a concern about local government spending,” said Chris McLaughlin, a faculty member at UNC-Chapel Hill’s School of Government whose expertise includes local government tax and finance issues.

“Anything’s possible,” McLaughlin said of efforts to limit tax increases. “But I would then ask, how are we going to pay for the services we all expect and want, like fire protection and police and roads and parks?”

AFFORDABLE HOUSING INTEREST SURGES IN BUNCOMBE COUNTY, BUT LEADERS SAY CHALLENGES REMAIN

The debate mirrors discussions taking place in states like Florida as homeowners grapple with rising housing costs and inflation.

“It is absolutely a national question,” said Chris Cooper, chair of the political science department at Western Carolina University.

“What the Republicans are arguing in the North Carolina General Assembly, the majority, are arguing is we’re in a time of high inflation, we’re in a time of people being pinched economically, therefore we want to make sure property taxes hold before the revaluation so they cannot get priced out of their homes,” Cooper said.

In Florida, Gov. Ron DeSantis has proposed changes aimed at significantly reducing homeowners’ property tax bills. Part of his argument is that local governments have nearly doubled their revenue collections over the past seven years, according to DeSantis.

Among DeSantis’ proposals is raising Florida’s homestead tax exemption to $250,000. Under that plan, local and state governments would not collect property taxes on the first $250,000 of a home’s assessed value.