2024 Annual Comprehensive Report

Table IX Page 1 of 2

-19 2 Assessed Value and Estimated Actual Value of All Taxable Property Fiscal Years Ended June 30, 2015-2024 Fiscal Year Tax Real Personal Corporate Ended Year (b) Property Property Excess 2015 2014 $ 20,085,442,933 $ 4,635,287,567 $ 2016 2015 20,261,492,234 4,791,348,871 2017 2016 20,485,403,901 4,953,350,708 2018 2017 21,906,898,824 4,928,328,300 2019 2018 22,161,110,873 5,093,648,459 2020 2019 22,830,973,771 5,545,733,397 2021 2020 23,086,778,095 5,857,727,428 2022 2021 23,091,879,903 5,945,631,283 2023 2022 31,050,020,570 6,642,427,327 2024 2023 31,411,472,672 6,838,762,331 (a) (b) (c) * Adjusted County Report The City's property tax is levied each July 1 on the assessed value listed as of the prior January 1 for all real and personal property located within the City, other than motor vehicles. Assessed valuations are established by Guilford County at 100% of estimated market value for real property and 100% of actual value for personal property. Public service company (corporate excess) property is certified by the State of North Carolina at 100% of actual value, with no distinction between real and personal property values. Property taxes on registered motor vehicles are collected by the State of North Carolina at time of vehicle registration or within sixty days if the vehicle is purchased from a registered dealer. Collections are then remitted to Guilford County for subsequent distribution to the City. A revaluation of real property is required by North Carolina General Statutes at least every eight years. In February 2014 the Board of County Commissioners of Guilford County approved a change in revaluation cycle from eight to five years. The last revaluation was completed for tax year 2022, effective in FY2023. The next revaluation will occur in 2025. Total direct tax rate is a weighted average rate of all types of City of Greensboro tax rates, based on the applicable portion of the taxable property assessed. 552,000,244 617,692,366 637,062,943 671,031,499 688,080,299 718,405,361 748,222,485 713,323,543 867,201,487

Total

Assessed Value (a)

$ 25,272,730,744

25,670,533,471

26,075,817,552

27,506,258,623

27,942,839,631

29,095,112,529

29,692,728,008

29,750,834,729

856,754,130 *

38,549,202,027

39,117,436,490