The purpose of this information is to help the taxpayers of Nash County understand what a revaluation is, how a revaluation is performed, and how a revaluation will affect the average property owner. The Assessor's Office has not created the value.
People determine value by their transactions in the marketplace.
The Assessor's Office simply has the legal responsibility to study those transactions and appraise your property accordingly. Income taxes are generally reserved for the federal and state governments. Property tax revenues are used to operate schools and county agencies such as the Sheriff's Department, Health Department, Social Services and others. The amount of property tax you pay is based upon the value of your property and the tax rate as determined by the Board of Commissioners. The County Assessor's Office determines the assessed value of all property in the county.