Buncombe County Property Tax Re-Assessments

Buncombe County re-assesses property values every three years. This is a reassessment year, and all property owners should have received updated assessed values recently.

The goal is to align tax values with current market conditions. The 2026 tax rate has not yet been set (expected by June) and is anticipated to be lower than the current rate.

How Property Taxes Work A mill rate is the tax rate used to calculate property taxes.

1 mill = $1 per $1,000 of assessed value

Formula:

(Assessed Value ÷ 1,000) × Mill Rate Example:

$400,000 home

Mill rate = 10 → Annual tax = $4,000

Buncombe County expresses taxes differently:

County rate (2025): ~$0.5466 per $100 (~0.55%)

Asheville combined rate: ~$0.9885 per $100 (~0.99%)

Effective rates:

Outside city: ~0.55%

Inside Asheville: ~0.99%

Estimated Taxes (Based on $427,000 Value) County only: ~$2,334/year

Asheville city: ~$4,220/year

Note: These assume no rate change (unlikely).

What Happens After Reassessment Reassessments follow two steps:

Property values updated

Tax rate adjusted

Because your value increased significantly (from $266K → $427K, ~60% increase), the county will likely lower the tax rate.

Typical outcomes when values rise:

Tax rates drop ~30–40%

Tax increases are much smaller than value increases

Realistic Tax Projection Estimated new annual taxes:

Low: ~$2,800

Mid (most likely): ~$3,050

High: ~$3,300

Expected increase: ~5%–25% (not 60%)

Monthly Escrow Impact Previous:

~$2,630/year (~$219/month)

Estimated new payments:

Low: ~$233/month (+$14)

Mid: ~$254/month (+$35)

High: ~$275/month (+$56)

Note: Your lender may temporarily increase payments by $50–$100/month to cover escrow shortages.

Should You Appeal Your Assessment? Your increase is significant but not unusual. The key question:

👉 Does $427,000 reflect true market value?

When You SHOULD Appeal Comps below ~$400K

Home needs updates/repairs

Incorrect details (sq ft, condition, etc.)

Functional limitations (layout, lot, etc.)

When It’s NOT Worth It Comps ~$420K–$450K

Home is updated

Value aligns with neighborhood

Market Comparison (West Asheville) Typical range: $370K – $410K

Broader range: $400K – $440K

Your value ($427K):

Slightly high vs tight comps

Still within broader range

Appeal Recommendation This is a borderline but worthwhile appeal.

Estimated true value:

$395,000 – $420,000 Potential savings:

~$100–$300/year

Strong Comparable Sales 32 Florida Place – $415,000 (1,068 sq ft)

12 Dale Street – $410,000 (936 sq ft)

8 Vermont Avenue – $415,000 (725 sq ft)

Suggested Appeal Statement I am requesting a review of my 2025 property assessment of $427,000.

My home is a 2-bedroom, 1-bath property of approximately 970 square feet located in West Asheville (28806). Based on recent comparable sales in my immediate area, the assessed value appears to exceed current market-supported levels.

Recent comparable sales include:

32 Florida Place (1,068 sq ft) – $415,000

12 Dale Street (936 sq ft) – $410,000

8 Vermont Avenue (725 sq ft) – $415,000

These suggest a market range of approximately $390,000 to $415,000.

Additionally, the home has not undergone major recent renovations and, at under 1,000 square feet, has a natural ceiling on value compared to larger properties.

Based on these factors, I respectfully request a review and adjustment of the assessed value.

Strategy Tips Focus on market data only

Use 3–4 strong comps

Keep tone factual, not emotional

Let data do the work

Bottom Line Your assessment isn’t unreasonable—but it’s slightly high.

👉 That puts you in a strong position for a modest but realistic reduction.