South Raleigh News

The Wake County Board of Commissioners has decided to alter the property tax revaluation cycle. The new plan involves transitioning first to a three-year cycle and then to a two-year cycle, with upcoming revaluations set for January 1, 2027, and January 1, 2029. This change aims to make property valuations more routine for owners, reducing the shock from large adjustments every four years.

“We heard clearly from our residents after the 2024 revaluation that dramatic jumps in property values created financial uncertainty for many families," stated Susan Evans, Chair of the Wake County Board of Commissioners. "Moving to a shorter cycle will help smooth out these increases over time, making the process more predictable and fairer."

North Carolina mandates counties update property values at least once every eight years. Previously, Wake County conducted revaluations every four years, with the last one effective on January 1, 2024. The new approach seeks to align with national standards where rapidly growing counties conduct annual revaluations.

"Wake County continues to experience substantial growth in both new residents and new construction," said Marcus Kinrade, Wake County tax administrator. He noted that property values increased by 51% between 2020 and 2024. Kinrade explained that infrequent revaluations leading to large value hikes can significantly impact household budgets due to fluctuating tax bills.

Further details about the tax revaluation process are available on the Wake County Tax Administration webpage.