Wake County leaders are expected to discuss property revaluations on Monday during a Board of Commissioners meeting.
County commissioners will hear from residents during a public hearing about the “Schedule of Values,” a document that outlines how county appraisers determine the market value of more than 460,000 residential and commercial properties.
The new values will reflect market conditions as of Jan. 1, 2027.
Revaluations are used to assess the current market value of homes in a county. Counties hold revaluations at different times, such as Wake County, which had its most recent property revaluation in 2024.
Wake County leaders in 2025 approved changing the schedule for county revaluations from a four-year cycle to a three-year cycle and then to a two-year cycle. According to county leaders, a more frequent schedule better reflects the county’s growth and shifting real estate market.
“We understand that a property revaluation can be a stressful process for many residents,” said Wake County Tax Administrator Marcus Kinrade.
“By updating values more often, the County’s assessed value will more closely align with market value and create a fairer, more predictable property tax system. Market shifts affect property types differently. More frequent revaluations ensure all property owners pay their fair share of property tax.”
Property taxes are based on two factors: a property’s assessed value and the tax rate set by county and municipal officials. Revaluations update a property’s assessed value to reflect current market value, but they do not set or change the tax rate. Currently, Wake County’s property tax rate is 53.71 cents per $100 of assessed property value.
The county said the following steps have already been completed in the revaluation schedule:
Neighborhooding: Appraisers group properties into neighborhoods based on shared characteristics, such as age, style and construction quality, since these properties tend to respond similarly to market changes.Land and Building Pricing: Appraisers study recent property sales to determine current market values and measure how features such as size and condition affect value.Field and Office Review: Staff review all properties built before 2000 in person and review other properties in the office to help ensure values reflect current market conditions. The results are compiled into the Schedule of Values, which the Wake County Board of Commissioners must approve before it takes effect.Notice of Assessment and Appeal: Wake County Tax Administration plans to present the revaluation results to the Board of Commissioners on Jan. 19, 2027. A few days later, property owners will receive their updated assessed values by mail, along with information on how to file an appeal if needed.
The state holds property revaluations at least every eight years. After 2027, future revaluations will happen every two years starting in 2029.
The public hearing on the ‘Schedule of Values’ will be held during the Wake County Commissioners meeting at 5 p.m. Monday at the Wake County Justice Center. Commissioners will vote on the new rules October 19.