By james art 
Durham homeowners will soon begin to see the impact of the pandemic housing boom this year.
The county is preparing to send notifications for the reassessment of property values. This is the first reassessment of 2019
“The number one factor will be the local real estate market. In the last six years, after our last reassessment, 2019, Durham has observed an increase he has never seen before, “said Keyer Doyle, Durham Tax Administrator.
“On top of that, I believe that some of the factors include population growth and the number of people moving to the area, influenced supply and supply, which also affected these same increases,” he added.
The district average sale price jumped 74% of $ 239,500 in January 2019 to $ 416.00 in December 2024, according to County,
Doyle works to help inform and prepare residents about the sticker shock.
“I expect the re -evaluation to increase, because in Durham a lot of growth has happened and many people are moving and turning it into a popular place,” says Reinald Johnson, who lives in Durham.
He was among dozens of people who gathered at St. Joseph Ame Church in Durham to learn more about evaluations.
“The increase in the increase varies depending on the area, but I would say that the city, the urban area, the inner city of Durham, increased the most. We are looking at about 75% in 2019, “Doyle said.
Housing owners discussed with the county staff how this would affect them and the appeals and learned more about tax relief programs.
Doyle explained how some areas grow at a different pace than others. Property values may look different depending on the neighborhood.
Restructure and genetration also play a role, mainly in the inner city of Durham.
“So the genetration would be a direct reflection of those properties, which are bought for a more expensive price and sold at a higher price. And many of these properties were in the city market areas, “Doyle added.
Stella Adams is one of the residents who have expressed concern about those in historically black neighborhoods. She fears that they could eventually be priced.
“It has a great historical property of the home, especially on the Old Oxford and Dearborn Drive highway. These are homeowners with many generations, but they are the owners of low -income homes and lots when they are built, the lots are large. You have a modest home for a big lot, so this Earth’s rating will be a shock to stickers, “Adams said.
She said many are also adults with fixed income.
“They will not be able to see this change in value. They know that they can’t really sell their home for this value or anywhere close to that value. And do you know how they will pay this account? “
There are three state programs that Durham County administers through the state.
The state program includes; Exception to adults/disabilities with disabilities, circuit breaker – a program for the delay of the elderly/disabled and exclusion of disabled veterans.
The Durham Ministry of Social Services also administers its low -income county program, owners of owners (LIHR).
It is too early to understand how new estimates will be reflected in tax accounts. Revaluation is only focused on tax value. The tax value is then combined with the tax rate to obtain the new tax account.
The county will start budget hearing in March to determine what the tax rate will be. A new budget will be adopted later this summer.
“This event is about awareness,” Doyle said. “I just want people to find out where the values come from, why we make reassesses and on top of that, because of this particular market, I want people to prepare for a possible increase. I think they should expect an increase in the actual tax account. They will definitely get an increase in their tax value, “he added.
Residents can receive their notifications after next Friday. The values will be set for the next four -year period. Housing owners will have to appeal by mid -June.
“This is the historical real estate market we have participated in in the last eight years. It directly affected our value throughout the county. There are no market areas that will not be affected by this increase in value. “