Why have a revaluation?

The State of North Carolina requires counties to conduct a revaluation at least once every eight years (NCGS 105 - 286a). Its purpose is to redistribute the tax burden based on current market data. As time elapses between revaluations, properties may increase or decrease in market value at different rates. The State of North Carolina charges counties with assessing property based on current market data as of each revaluation date.

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1. How will the pandemic affect the tax value of my home for 2021?
2. How will my 2021 tax bill be affected by the Revaluation, and specifically during the pandemic?
3. What is a revaluation?
4. Why have a revaluation?
5. Will all property values change during a revaluation?
6. Why appraise at market value?
7. When does the revaluation take effect?
8. Who will do the work of reviewing properties for the revaluation?
9. When can I find out my new tax assessment?
10. Will my taxes change as a result of revaluation?
11. How are market values determined?
12. What if I disagree with my new tax assessment?