Chapel Hill Real Estate Search

Today I want to talk about a subject that is near and dear to our hearts!  Property Taxes!!!   I have been a member of the Orange County Board of Equalization and Review since 1993.  This is the appointed body that oversees the assessors numbers - our tax values.    The assessed value of your home and the market value are two very different numbers derived and used for different purposes. 

The Assessed Value:  The value of a property according to the tax rolls in ad valorem taxation.  May be higher or lower than market value, or based on an assessment ratio that is a percentage of market value. 

Market Value is a type of value, stated as an opinion, that presumes the transfer of a property (ie a right of ownership or a bundle of such rights) as of a certain date, under specific conditions set forth in the definition of the term identified by the appraiser as applicable in an appraisal.  

The assessed value will be established using market data.   The assessed value will be value from January 1, 2009 forward for the next four years and when applied to the tax rate will determine your taxes.  The tax rate will change annually thereby raising your taxes.   However, the tax rate drops after a revaluation.  In Chapel Hill from ‘04 to ‘05 the rate fell from 1.655 to 1.5484 and from ‘00 to ‘01 from 1.727 to 1.551.   In Carrboro the rates will be slightly higher (bummer) but the rates will also drop year to year in a revaluation year.   So your assessed value will go up but your tax rate will go down generating a modest, so to speak, increase in your taxes.  

Call me, Reg Morgan, your Chapel Hill realtor if you have questions on home values in your Chapel Hill neighborhood.

Olive Creek is a wonderful, small neighborhood in Hillsborough.  It boasts an excellent location and one of the areas premiere builders - G.Crabtree Homebuilding.   Lots of amenities and quality construction are the hallmarks of Olive Creek.  Hillsborough is a great place to live - and this neighborhood on Dimmocks Mill Road in Orange County is worth a look.

Call Reg Morgan to discuss homes in Hillsborough and Orange County North Carolina. Take a look for yourself at what’s currently listed on the Hillsborough MLS listings.

Orange County schools announced that their new middle school, Gravelly Hill would be delayed even further due to water and sewer construction issues.  Opening date has been set for November 1.  For now, students that are slated to attend Gravelly Hill are at CW Stanford middle school.

Orange County has some wonderful real estate and excellent schools.  Hillsborough is a great town and I have many clients who decide that Hillsborough is their first choice when relocating to the Triangle area of North Carolina. 

If you are thinking of buying or selling your home in the Orange County, call Reg Morgan.   An Orange County realtor with over 20 years in local North Carolina real estate.

Take a look at some Hillsborough MLS listings now.

As a Chapel Hill realtor, I always keep an eye on the trends and numbers for home sales in Orange County real estate.   The MLS listings are the best information we have on pricing trends and sales.

Based on the numbers through May, sales are going well for Chapel Hill homes.   The average home price in Orange County was $324,979, and the median price was $247,600.   It’s a good time to be in the market.  Contact me if you are buying or selling your Chapel Hill home.   If you are selling, I’ll prepare a detailed comparative marketing analysis to determine your home’s best value.  If you are looking to buy a home or relocate to Chapel Hill, I’ll take you through the process start to finish.  Finding the best neighborhood, the top Chapel Hill school and that special home for my new neighbors is one of the most rewarding parts of my job.

Hockey fever has hit our house - and many others in Chapel Hill.  The Carolina Hurricanes hold a 1-0 lead in the Stanley Cup series.

If you’re thinking of relocating to Chapel Hill or the greater Triangle area, call me.  One of the first things I did when I came down here was find the great recreation.  I play in a hockey league at the Triangle Sportsplex in Hillsborough.  

I know the schools, the towns, the neighborhoods that make up this place we call the ‘Southern Part of Heaven.’  Check out the Chapel Hill MLS listings on my website.  (and watch the Hurricanes take on the Oilers tonight!)

Go ‘canes!