Asheville Area Mansion Owners Could Face Higher Taxes; Changes in Local Tax Assessment

Asheville Area Mansion Owners Could Face Higher Taxes; Changes in Local Tax Assessment

Following changes in one county government department, homeowners in the burgeoning local mansion market could find themselves paying property taxes that are higher − and fairer, according to advocates of reforming county tax assessment.

Those changes in the way Buncombe County assesses the value of homes for purposes of taxation include greater outreach to owners of lower-priced homes to help them appeal assessments, more monitoring of real estate websites, and the addition of two new assessment department staff − with one of them assigned to luxury homes. That is according to County Assessor Keith Miller who presented the changes to the Board of Commissioners.

Addressing Discrepancies in Tax Assessments

The changes are a response to discrepancies in tax assessments, with advocates highlighting gaps between sale prices of mansions and their tax-assessed value. Owners of Deerhaven Gardens, for example, experienced a significant difference in valuation, leading to adjustments in their property taxes.

On the other end of the market, owners of lower-end homes were being over-assessed, prompting calls for reform to create a more equitable tax assessment system.

Changes in Assessment Process

These changes come during the county’s periodic reappraisal process of every property, aiming to establish fairer property values that align with market rates. The focus on data, outreach, and equity is central to the updated assessment approach.

The addition of new staff members and a review of high-end properties reflect the county assessor’s commitment to enhancing the accuracy and fairness of property valuations.

Reactions and Calls for Further Reforms

While initial reactions to the changes have been positive, some reform advocates believe further improvements are necessary. Suggestions include more frequent reappraisals and identification of unreported property improvements to ensure tax fairness.

The appeal process and access to resources for property owners, particularly those with lower-valued properties, have also been highlighted as areas requiring attention to promote transparency and equity.

Conclusion

The recent changes in tax assessment processes in Buncombe County demonstrate a concerted effort to address disparities in property valuations and create a more balanced taxation system. By integrating outreach initiatives, data analysis, and specialized staff roles, the county aims to foster a fair and transparent approach to property taxation.