2025 Property Reappraisal FAQ

This year, Union County conducted a property reappraisal for all property within the county. Below is an FAQ with more information about the process. Additional information can also be found on Union County's website.

What is a property reappraisal?

The goal of a property reappraisal is to establish the market value of every property in Union County. Since this reappraisal is for 2025, the property value is based on market value as of Jan. 1, 2025.

Why did Union County conduct a property reappraisal?

In North Carolina, counties are required to reappraise all the property within the county at least every eight years. To better keep up with changing markets, Union County decided to reappraise property every four years.

Reappraisals are conducted because property values do not fluctuate uniformly. Regular revaluations ensure the assessed values reflect current market conditions, preventing disproportionate tax burdens on property owners.

How are property values determined?

Property values are based on 100% fair market value as of the effective date of the last reappraisal. Several factors are considered when determining the assessed value of a property. Among those are the age of the dwelling, square footage, property type, quality of construction, as well as the location of the property. Staff appraisers closely review sales of comparable properties within the same local area.

What are the different methods for property reappraisal?

There are three recognized methods:

The Sales Comparison Approach, commonly used for residential properties and most known by the public, involves comparing the characteristics of the appraised property with recently sold properties. Adjustments are made to the sale prices of comparable properties to account for any differences, providing an estimate of the subject property's value.
In the Cost Approach, the appraiser calculates the cost to construct the subject property new, encompassing all direct and indirect expenses. Depreciation is then factored in based on the current condition of the improvements. This cost is added to the appraiser's opinion of the land value to determine the total property value.
The Income Approach assumes that the property was acquired or would be acquired for its income-producing potential. This approach estimates the present value of all anticipated future income streams while considering vacancy, collection loss, expenses, and market Capitalization Rates.

Union County employs all three methods as appropriate, recognizing that not all methods are suitable for every type of property. The Sales Comparison Approach is primarily used to develop land values, while the Cost Approach is used to develop base rates for improvements on many commercial and industrial properties. For the 2025 reappraisal, Union County transitioned to the Income Approach to value most income-producing properties.

Why will some areas see a smaller or larger valuation than others?

Neighborhood desirability, proximity to amenities, quality of schools, recent development, local economic conditions, and the overall market demand within that specific area can cause different neighborhoods to experience varying levels of appreciation in property values.

How will the property reappraisal impact my taxes?

A change in your appraised value does not necessarily predict whether your property tax will increase, decrease, or stay the same. The tax rate is established with the annual fiscal year budget. The Town of Indian Trail is still in the Fiscal Year 2025-2026 budget process. The tax rate will be set by July 1.

What does a revenue-neutral tax rate mean?

The revenue-neutral property tax rate is the rate that is estimated to produce revenue for the next fiscal year equal to the revenue that would have been produced for the next fiscal year by the current tax rate if no reappraisal had occurred. This means residents would pay approximately the same amount in property taxes even with an increased property value.

What do property taxes pay for in Indian Trail?

The Town of Indian Trail has a property tax rate of 18.5 cents per $100 of valuation, which is one of the lowest tax rates for a town of our size in the area. Below is a breakdown of how that 18.5 cents is used:

8.46 cents of the tax rate pays or law enforcement (contract with the Union County Sheriff's Office)
6.26 cents of the tax rate pays for solid waste services
3.41 cents of the tax rate pays for debt service
0.37 cents of the tax rate are available for general expenses

The majority of the Town's tax rate pays for fundamental services, including public safety and solid waste.

How would reducing the tax rate or going revenue neutral impact the Town of Indian Trail's operations and capital projects?

The Town would see a reduction in sales tax revenue. Sales tax revenue in Union County is tied directly to the municipal tax rates in each jurisdiction in the county. Sales tax is distributed proportionately based on the total amount of ad valorem tax levied in each taxing authority. The lower the tax rate, the lower the sales tax revenue distributed. Ad-valorem property taxes and sales taxes are two of the Town's largest revenue sources.

A reduction in the tax rate, and subsequently a reduction in sales tax revenue, would mean partially funded or unfunded capital projects (e.g., roads and infrastructure) would be prolonged. Additionally, the Town would not have the ability to increase its level of service.

Am I able to appeal my new property value?

Yes. The first step is to file an appeal through an appeal form on Union County's website. The Tax Administrator's Office must receive appeals no later than May 28.
If you disagree with the informal review notice of decision, you can file an appeal with the Union County Board of Equalization and Review. Any taxpayer who did not file an informal review request can also file an appeal with the Board of Equalization and Review
If you disagree with the notice of decision from the Board of Equalization and Review, you have 30 days to file an appeal to the North Carolina Property Tax Commission.
If you disagree with the notice of decision from the NC Property Tax Commission and it involves a matter of law, not judgment of value, the taxpayer may appeal to the North Carolina Court of Appeals.
The NC Supreme Court hears appeals from the Court of Appeals. This is the final decision. There are no appeals of decision from the Supreme Court.

You can also call the Tax Assessor's Office at 704-283-3746 or visit in person at 550 N. Main Street, Suite 236, in Monroe to get more information about filing an appeal.