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  • Revaluation is a process in which all real property in the county is appraised at its current market value as of a particular date.

  • Real property includes both land and the improvements on it, whether residential, commercial, agricultural or industrial in nature.

Why We Reappraise Property

  • State law requires all counties to conduct a revaluation at least once every eight years.

  • Revaluation distributes the overall property tax burden equitably across the county based on current market values.

What is Market Value?

  • Market value is the most probable price a property would bring in an open and competitive market.

  • Over time, most properties change in value, but often at different rates, depending on location.

  • The Tax Office does not create market value; rather, we analyze market sales to determine market patterns and trends in different locations. Market value is set by the choices of buyers and sellers in the marketplace.

When Will Revaluation Occur?

  • Revaluation took effect January 1, 2025.

  • 2025 Revaluation Notices will be mailed to all Dare County property owners at the end of March 2025.

  • The notices will contain the new assessed value that reflects current market value as of January 1, 2025.

  • New assessed values will be used to calculate tax bills from 2025 until the next revaluation occurs.

Three Steps to Revaluation

  1. Collection of Physical Characteristics: Physical characteristics are collected for each property, including condition and exterior features.

  2. Sales Analysis: Property sales are studied to determine market areas, trends and patterns.

  3. Develop Schedule of Values: Schedule of Values are developed to help appraisers correlate physical characteristics with market values.

2025 Tax Base Estimate

  • When Change of Value Notices are mailed in late March 2025:

  • 2024- $16.4 Billion Tax Base

  • 2025- $27.4 Billion Tax Base

  • Overall countywide change is estimated to be 67%

2025 Tax Base Change Estimates by County Area

  • Northern Beaches: 55%-74%

  • Hatteras Island: 55%-62%

  • Roanoke Island: 49%-69%

  • Mainland Dare: 37%-69%

Different Areas, Different Changes

Different Areas, Different Changes

The following slides are examples of market activity in different areas.

They do not necessarily reflect market changes for all properties in that area.

Location: Duck

● 2020 Assessed Value: $1,894,800

● Sale Date: 3/8/2024

● Sale Price: $3,250,000

● Increase of 58%

Location: Southern Shores

● 2020 Assessed Value: $1,240,800 \

● Sale Date: 2/26/2024

● Sale Price: $2,300,000

● Increase of 85%

Location: Kill Devil Hills

● 2020 Assessed Value: $449,800

● Sale Date: 3/12/2024

● Sale Price: $715,000

● Increase of 59%

Appraised Value vs. Tax Rates

  • Appraised value and tax rates are two separate components.

  • County tax appraisers evaluate market activity to determine appraised value, or market value.

  • The tax rate is determined by the Dare County taxing jurisdictions, based on their budgetary needs.

  • The appraised value is established well before the tax rate is set, and it is totally independent of the tax rate.

  • The amount of a tax bill cannot be determined until the tax rate is set

Appeals

What to do if you disagree? Follow this three-step process:

  1. Review: Review the information we have on file for your property, and report any outdated or incorrect information to us.

  2. Compare: Compare your property value with the sale prices of similar properties using our free online service.

  3. Appeal: If all information is up to date and you still disagree with the assessed value, you can file an appeal.

Appeals

Is the question really about value?

There are often issues other than tax value that concern property owners, such as:

● The amount of change from the last revaluation

● Affordability of the expected taxes

● Level of services provided While these are all understandable concerns, the only issue the tax office can address is the appraised value.

Informal Appeals

The informal appeals process begins after the value notices are mailed.

  • The notice serves as the informal appeal form.

  • Appeals may be submitted online, by mail or in person.

  • This process continues until the Board of Equalization & Review convenes between April and May.

2025 Value Notice

How to Support Your Appeal

You will need to provide information to support your appeal. Useful documentation includes:

  • Comparable sales or comparable sale reports from the property owner, the county’s online sales database or a real estate professional

  • Pictures showing the property’s interior and exterior characteristics and condition.

  • A copy of a recent fee appraisal for the property.

  • Data errors and out-of-date information about your property can be managed quickly. Our staff members are here to help if you need to correct, update, or verify your property information.

  • Appeals must be based on value, not on the change in value or what the expected tax increase might be.

Key Reappraisal Dates

DareNC.gov/Revaluation

The Revaluation webpage has pertinent information and may be able to answer questions regarding:

  • Timeline

  • Schedule of Values

  • Parcel Data Verification

  • Comparable Sales Tool

  • Appeal information

  • Online Appeal Forms

  • Contact Information

Contact Information

Dare County Revaluation Department

Tax Assessor: Hosea Wilson

Contact: 962 Marshall C. Collins Drive PO Box 1000 Manteo, NC 27954 252-475-5940 (Office) 252-473-1699 (Fax) DareReval@DareNC.gov

Learn More: DareNC.gov/Revaluation