Wake County leaders are expected to discuss property reassessments Monday at a Board of Commissioners meeting.
County commissioners will hear from residents at a public hearing on the “Schedule of Values,” a document that describes how county assessors determine the market value of more than 460,000 residential and commercial properties.
The new values will reflect market conditions as of January 1, 2027.
Reassessments are used to assess the current market value of homes in a county. Counties conduct reassessments at different times, such as Wake County, which had its most recent property reassessment in 2024.
Wake County leaders approved changing the county reassessment schedule in 2025 from a four-year cycle to a three-year cycle and then to a two-year cycle. County leaders say a more frequent schedule better reflects the county’s growth and changes in the real estate market.
“We understand that a property reassessment 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 changes affect property types differently. More frequent reassessments ensure that all property owners pay their fair share of property taxes.
Property taxes are based on two factors: the assessed value of a property and the tax rate set by county and municipal officials. Reassessments update the assessed value of a property to reflect the current market value, but they do not fix 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 reassessment schedule:
- Neighborhood: Appraisers group properties into neighborhoods based on common characteristics, such as age, style and quality of construction, since these properties tend to respond similarly to market changes.
- Land and Building Prices: Appraisers study recent real estate sales to determine current market values and measure the impact of features such as size and condition on value.
- Field and Office Review: Staff examines all properties built before 2000 in person and reviews other properties in the office to ensure values reflect current market conditions. The results are compiled into the scale of values, which the Wake County Board of Commissioners must approve before it takes effect.
- Notice of Assessment and Appeal: The Wake County Tax Authority plans to present the results of the reassessment to the Board of Commissioners on January 19, 2027. A few days later, property owners will receive their updated assessed values in the mail, along with information on how to appeal if necessary.
The state conducts property reassessments at least every eight years. After 2027, future reassessments will take place every two years starting in 2029.
The public hearing on the “Calendar of Values” will be held at the Wake County Commissioners meeting Monday at 5 p.m. at the Wake County Justice Center. Commissioners will vote on the new rules on October 19.
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