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1 year ago

Which transfer of ownership would not be excluded from property tax reappraisal?

1 answer:

5 0

Transfers between unrelated buyers and sellers is the transfer of ownership would not be excluded from property tax reappraisal.

State law requires one at least every eight years
(Randolph County’s last reappraisal was effective 1-1-2014)
Assure all properties reflect current market value
To create equity between the four types of assessed property:

Real estate
Personal property (Individual and Business)
Registered motor vehicles
Public service companies

Reappraisal is an in-depth process of assigning new values to all the real property in the county at its current market value. If no changes are made to the property in-between reappraisal years, the value will not change.

Guilford County appraisers review and analyze information including comparable sales in your neighborhood. Reappraisals are not only mandated by North Carolina General Statues, but are necessary to maintain equitable and uniform property values. Reappraisal tools include county maps, aerial photography, street level images, sales analysis, field visits, and other methods to gather data used in determining market value. Guilford County conducts reappraisals entirely in-house by appraisers familiar with the local market.

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While preparing a bank reconciliation, a bank service charge was discovered. This adjustment would be recorded with a?

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