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North Carolina Appeals Court Reverses Ruling on Ad Valorem Tax Valuation

Friday, November 30, 2001 - 8:00AM

The North Carolina Court of Appeals reversed a decision of the Property Tax Commission that affirmed the ad valorem tax valuation of a property in Durham County. The case was remanded to the commission, which may either hold a new hearing to redetermine the value of the property in question or remand the matter to the county. In either event, the court ruled that the method used for the redetermination must take into account the market standard for property restricted by the requirements of § 42. For more information, click here.

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