Mitchell County Property Revaluations Underway
Property revaluations have begun throughout Mitchell County in an effort to bring values more in line with current market values. The previous revaluation came at a time when the housing prices were at a peak in 2007 and 2008 and before the economic crash that hit real estate market particularly hard. Mitchell County Tax Assessor Blair Hyder said this week that the same company that did the valuation last time, Wampler –Earns Appraisal Group Ltd., has begun initial field work with two goals in mind, accuracy and equity. Mitchell County’s current tax rate is 40 cents per hundred. Property values are expected to decline in the new valuation but tax authorities stress that property tax values are just one part of the taxation equation. The appraisers must wait for 14 more months of sales data to come in before any definitive statements about the eventual outcome of the reappraisal process can be announced.