2027 Revaluation

2027 Revaluation

About the 2027 Revaluation

Wake County is growing rapidly, and property values are increasing faster than ever. Between 2020 and 2024, property values rose by an unprecedented 51%. The 2024 revaluation reflected this change, with many property owners seeing significant increases in their assessed values. Neighboring counties, including Johnston, Durham, and Orange, are also seeing significant increases.

To mitigate such large increases in value, Wake County will increase the frequency of property revaluations to better serve the growing community. The Board of Commissioners approved a transition from a four-year cycle. The next revaluation will be effective January 1, 2027, and then future revaluations will be effective every two years. The first revaluation on a two-year cycle will be effective January 1, 2029. The County has chosen a gradual transition to allow property owners to adapt to this new approach.

Frequent revaluations help distribute value changes more gradually, reducing sticker shock associated with longer periods between revaluations. New construction and major renovations will be valued closer to their actual market worth, which allows growth in the tax base to be realized sooner. This also reduces the property tax burden on lower-valued, older properties.

More frequent revaluations also align with best practices and the County’s national peers. By moving to a shorter revaluation cycle, Wake County aims to create a fairer, more predictable property tax system that supports its rapidly growing community.

2027 Revaluation Steps:

• Spring 2025: Appraisers begin 2027 revaluation and start neighborhooding – the first phase of revaluation.
• Summer 2025: Appraisers begin the land and building pricing phase of revaluation.
• Winter 2026: Appraisers begin field and office reviews for the 2027 revaluation.
• Fall 2026: The Board of Commissioners reviews and considers the 2027 Schedule of Values.
• January 2027: The results of the 2027 revaluation are presented to the Board of Commissioners, and value notices are mailed to property owners. Taxpayers can appeal their new assessed value.