Simpson has been toying with the proposal for a while, but earlier this month she formally proposed it to county commissioners. If her plan goes through, Durham County property owners won't have to wait long for the next revaluation—the next one in 2019 and every four years from then on.
"Durham’s growing so fast,” she says, “and properties are being bought so quickly now. Markets are changing month-to-month, it’s better for citizens to pay their fair share of the tax burden.”
She says that the market is creating inequity among taxpayers. For example, in northeast central Durham, there have been a lot of purchases and renovations since 2008, when the previous revaluation was done. In 2016’s most recent revaluation, prices jumped from about $60,000 and $80,000 to $300,000 in some cases. Those property owners consequently received a huge tax bill.
"If a reappraisal happens in that shorter time period, you wouldn’t see a [significant] increase," Simpson says.
The proposed schedule wasn't met with any push back from commissioners, but they'll still have to vote for the proposal during an upcoming meeting.
It's no secret that Durham County tax administrator Kim Simpson isn't a fan of the county’s eight-year property-reappraisal schedule. If it was up to her, the county would be doing it yearly. That’s not on the table. But this is: following in the footsteps of other urban counties, Durham is considering a four-year schedule instead.