Wake County Real Estate Tax Change: What you need to know

Posted by Ryan Fitzgerald on Tuesday, December 8th, 2015 at 6:40pm.

What your home worth now? Find out:

Wake County Real Estate Tax Changes and Home Values

Wake County Real Estate Update: Officials have mailed letters to all property owners regarding the changes in the tax value of their properties.

What's your home worth now? Find out by requesting a home evaluation or filling out the form:

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Every eight years the county reassesses the value of each estate in Wake County. This allows the county officials to align the market value of each property with the tax value, however these realignments are not always accurate. You can request the county realign them as well, however all appeals must be made within 30 days.

If you're searching for information to find out if your home value has increased or decreased you can request a home evaluation to learn what your home will sell for OR checkout the to find out what you'll be paying in taxes.

Keep in mind that the Wake County Real Estate Tax prices is NOT what your home is worth. It is merely a guide to what you will be paying the county in property taxes.

If you want to find out what your home is worth you should contact us.  

The average property value increased by nearly 5 percent as a result of the Wake County tax changes. The commercial properties in Wake County accounted for a large portion of the change. Apartment complexes, motels, commercial real estate helped commercial Wake County real estate increase by 19 percent as a result of the new values.

The Wake County real estate tax changes valued apartments at a much higher price based on the rental appreciation in the area.

Apex and Cary are two locations that saw an average increase in Wake County real estate values. 

A note from Wake County Revenue Director, Marcus Kinrade:

"The results of this reappraisal project are quite different from those of prior reappraisal projects, where overall value increases have always exceeded 40 percent. With the global recession that occurred from mid-2008 through mid-2012 and the pressure it put on residential property values, the results are in line with what we were expecting to see based on market trends over the past two years. Some residential property values for individual properties may have increased or decreased substantially, even though average value remained fairly stable."

Durham County is mailing their property notices on Tuesday, December 8th!


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Ryan Fitzgerald Raleigh RealtyHi there! I'm Ryan Fitzgerald, a REALTOR in Raleigh-Durham, NC and the owner of Raleigh Realty. Chances are you and I share a similar passion, Real Estate! I also have a passion for technology, sports, and people. Would love to hear from you. Drop me a note in the comments section below and feel free to share this article socially!

 

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