Frequently Asked Questions

Reappraisal is the process of updating real property values to reflect their current market value. Market value is the most probable price a property would bring in an open and competitive market.

North Carolina law requires all counties to reappraise or revalue real property at least once every eight years. The purpose of a reappraisal is to reestablish equity among all properties and to equalize the tax burden among all classes of property. A reappraisal ensures property owners are paying their fair share of taxes for services rendered by local governments. Carteret County's previous revaluation took effect in 2020.

The last reappraisal in Carteret County was effective January 1, 2020.

Periodic reappraisals help ensure a fair distribution of the tax burden among taxpayers. The more frequent appraisals will recognize the fact that different properties increase or decrease in value at different rates. The more frequently a reappraisal is held, the more equitable the tax burden among property owners since these properties that appreciate or depreciate at different rates are appraised at their current market value more often.

Additional Reasons to Advance the Reappraisal Cycle

It generally will reduce “sticker shock” for taxpayers. Values for residential properties are not apt to rise or fall as rapidly in a four-year cycle versus an eight-year cycle. The level of assessment between personal property and real property remains more equitable by conducting more frequent reappraisals. Personal property is required by law to be appraised at 100% of its market value every year; whereas, real property is only at 100% on the year of reappraisal. The more years between reappraisals, the more distorted the values become, therefore creating an inequity of the tax burden among taxpayers.

North Carolina law says all counties have to do this at least every eight years. Think of it like updating the value of your home. Doing it more often actually helps prevent a big jump in your property taxes all at once – what we call "sticker shock."

No. North Carolina counties have to do property reappraisals regularly. This isn't done to get more funding; it's something they're required to do by law, and the budget process is separate with its own rules and public meetings.

Carteret County is required to develop and use standards, rules and procedures that are applied equitably to similar types of properties. These standards are developed based on market value transactions that have occurred within the county, construction costs and analysis of conditions affecting our local market prior to the date of the most recent countywide reappraisal. 

The assessed value of your property, established as a result of the revaluation, should represent the price a typical buyer would be willing to pay for the property in its condition on January 1 of the year of the most recent countywide reappraisal, which will be January 1, 2025.

Depending upon the data available and the type of property being appraised, there are several methods an appraiser may use to determine value such as the sales comparison approach, the cost approach and the income approach.

Sales Comparison Approach – This method, which is the most commonly used approach, compares your property with similar properties that have sold recently.

Cost Approach – This method determines how much it would cost to replace your property with a similar one less any depreciation.

Income Approach – This method determines the value of income-producing properties, such as apartments, based upon the amount of income the property or properties generate.

What is "fair market value"? According to North Carolina General Statute 105-283: "The price estimated in terms of money at which the property would change hands between a willing and financially able buyer and a willing seller, neither being under any compulsion to buy or to sell, and both having reasonable knowledge of all uses to which the property is adapted and for which it is capable of being used."

We have ways to estimate your home's value accurately by looking at the outside and using other information. While we don't typically go inside every home, if you believe the inside is very different from the outside, you can tell us during the review process so we can consider it.

Real property appraisers from the Carteret County Property Appraisal Office are responsible for the appraisal and assessment of all Carteret County real estate. The office maintains records on over 62,000 parcels of land and any accompanying buildings or improvements. All appraisers are required to be certified by the Local Government Division of the North Carolina Department of Revenue.

Reappraisal is a lengthy process that takes multiple years to complete. As part of the process, appraisers review information currently in the tax records about each property and then visit the property to verify accuracy. The appraiser may or may not actually drive onto your property and come to your door, depending upon whether he or she sees a discrepancy in our current listing data.

The reappraisal determines the assessed value of your property. The tax rate for Carteret County is set by the Carteret County Board of Commissioners and is established by June 30 of each year. Your tax bill is calculated by taking the assessed value of your property, dividing that value by 100 and then multiplying the result by Carteret County's current tax rate.

Let's clarify! The 90% figure you saw refers to the overall change in the total value of all real properties in the county. Think of it like the total pie getting bigger. Now, the county needs to decide how to slice that pie – that's the tax rate. They haven't done that yet. They have until June 30th to create their budget and set the tax rate. So, while the total property value has changed, your individual tax bill depends on the rate they eventually choose.

The total tax base numbers we share with the county, towns, and special districts show the overall change in real property values. This doesn't mean every individual property owner will see the same increase (or decrease) in their taxes. Your specific tax change could be higher or lower than the overall average.

When the county reassesses property values, it can cause property taxes to change, sometimes going up even if you've lived in your home for a long time. If you're an older adult, have a disability, or are a totally and permanently disabled veteran, there are programs that could help lower your property tax bill. You can find more information and application forms on the Carteret County website. Go to carteretcountync.gov, click on "Tax Help," then "Forms and Publications," and look for "Property Tax Relief Applications." You can also email us at taxhelp@carteretcountync.gov or call our office at (252) 728-8485.

No. The county's role is to determine the value of all properties (the appraisal). We, on the other hand, only send tax bills to the cities and towns that have a contract with us. It's important to remember that each city and town manages its own budget and decides on its own tax rates.

Property values change based on what people are willing to pay when buying and selling homes. As Carteret County becomes more popular, values can increase. We understand this can be a concern, and North Carolina offers programs to help homeowners with their property taxes. To see if you qualify for tax relief, go to carteretcountync.gov, click on "Tax Help," then "Forms and Publications," and choose "Property Tax Relief Applications." You can also reach us at taxhelp@carteretcountync.gov or (252) 728-8485.

That's a common thought, but it's not the whole story. The county needs to fund various services, and the tax rate is set to cover those costs. They look at all their income sources, not just property values, to figure out what the tax rate needs to be. Your property value helps determine how much of that total cost you contribute.

Not necessarily. While the county might calculate a "revenue-neutral rate," which is a way to compare the old and new tax rates for the whole county, your individual property tax bill could still go up, down, or stay the same after the property value reappraisal. Think of it this way: the revenue-neutral rate is about the total tax money the county collects, not what happens to each person's bill. The actual tax rate that affects your bill is decided later during the county's budget process, usually around the end of June.

We'll mail out your "Notice of 2025 Real Estate Assessed Value" in March 2025. This notice tells you the value used to calculate your property taxes.

Property tax bills will be mailed to property owners in August 2025. Property taxes are due Sept. 1 of each year and are payable without interest through January 5, 2026. An interest charge of 2% is assessed as a penalty on delinquent property tax bills received on or after January 6, 2026.

The Carteret County Commissioners and the local governments in your city or town decide on the tax rates in the late spring as part of their yearly budget planning. They actually encourage people to share their thoughts before the budget is finalized, usually around the end of June. The new tax rate that will be used to calculate your property tax will be set in the late spring and will start on July 1st, 2025.

Real property assessments can be appealed each year for the current tax year. Valuation appeals can be considered based on the January 1, 2025, fair market value. Appeals must be made prior to the date that the Carteret County Board of Equalization and Review adjourns for the year. (North Carolina General Statute 105-287).

• Check your property details: Look at the tax office's information about your home (like size, features, etc.). Make sure it's all correct. 
• Compare with recent sales: See what similar properties in your area have sold for recently. Our website has the sales information used for the latest property value updates. 
• Consider what you could sell it for: If you don't think you could have sold your property for the tax value on January 1, 2025, you have the right to appeal.

• Your appeal will be given to a certified property expert (appraiser) to review. 
• The appraiser will look at your appeal and see if others in your neighborhood have also appealed, which might give them more information to consider. 
• The appraiser might contact you to schedule a visit to your property or to talk with you about your appeal and any other details that could affect the value. 
• Once they've reviewed everything, the appraiser will send you a notice explaining if your property value will change or stay the same. This notice will also give you a chance to agree with the value or request a hearing. 
• If you disagree, you'll receive a letter with the date of your hearing where you can present your case to the Board of Equalization and Review.

You can appeal to the state, but the rules are the same at both the state and local levels. Appealing to the state usually takes much longer – it could take up to two years. For quicker help with things like incorrect information or outdated details about your property, it's best to work with us here in Carteret County. Our team is ready to help you fix, update, or check your property information easily.

North Carolina has rules about how long property owners have to appeal their tax assessment. For most years, the recommended time is shorter. However, because property values have been fully reviewed this year, the state suggests giving property owners at least four weeks to file an appeal, which is what we've done.

Be careful! You don't have to pay to appeal your property tax assessment. If a company tells you there's a cost to file an appeal, that's not accurate. Any fee they charge goes directly to them, not to the county. Also, it's too early to know if your property taxes will actually increase. Tax rates for the county and towns aren't set until June 2025, so the letter's claim might be misleading.

Absolutely. The people who conduct these assessments, whether they work for the county or are contractors, are officially certified by the state of North Carolina. This certification requires them to complete specific education and pass a thorough test. They also have to continue learning to stay up-to-date. You can be confident in their expertise.

Yes, the company we hired is a North Carolina business that specializes in property appraisals. Importantly, most of the team who worked on our county's reappraisal are your neighbors – they live in Carteret County, own homes here, and are active in our community. They understand what makes our county unique.

If there are significant changes, like new buildings being constructed or changes in how the land can be used (zoning), the county may update your property's value. When they do, they'll use the same pricing guidelines they established during their last general review. For example, a house built in 2027 on land that was vacant in 2025 would be valued based on the 2025 market prices.