2027 Revaluation

2027 Revaluation

About the 2027 Revaluation

Wake County revalues real estate to ensure all properties are valued and taxed equitably. Real estate revaluations are required by law in North Carolina, and they set the tax value of all residential and commercial land and structures, such as homes, office buildings, stores and farms. State law requires revaluation occurs at least once every eight years, but Wake County updates property values more often. When too many years pass between revaluations, value increases can build up and hit property owners all at once as a large, sudden jump. More frequent revaluations allow for changes in property values to be reflected gradually over time, making the system more stable, transparent and fair.

Wake County is taking the next step toward its 2027 property revaluation, the countywide process of updating property values to reflect current market conditions.  The Board of Commissioners have reviewed the proposed Schedule of Values, a document that outlines how county appraisers determine the market value of more than 460,000 residential and commercial properties. The Board of Commissioners scheduled a public hearing regarding the proposed Schedule of Values for its Oct. 5, 2026, regularly scheduled meeting. The new values will reflect market conditions as of Jan. 1, 2027.

It’s important to know that the property taxes you owe are determined by two factors: your property's assessed value and the tax rate set by elected county and municipal officials. The tax rate is expressed as a dollar amount for every $100 of your property's assessed value.  Your tax bill is the result of multiplying your assessed value set by revaluation, and the tax rate as set by elected officials. Revaluation itself does not focus on the property tax rate; it updates the assessed values of property in the county. 

With hundreds of thousands of parcels across the county, and more than half of all Wake County residents living in homes they own, revaluation directly affects most people in our 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.