NEW HANOVER COUNTY, NC – The New Hanover County Tax Department has completed its 2021 Tax Revaluation for all properties in the county, and letters will be mailed to property owners at the end of the month that will provide their property’s 2021 assessed value.
The purpose of the revaluation, also referred to as reappraisal of properties, is to fairly reflect the value of all property and help ensure that property taxes accurately reflect the property value. North Carolina law requires each county to conduct a revaluation at least once every eight years. Beginning with the 2017 revaluation, New Hanover County conducts a revaluation every four years to better reflect changes in market conditions in the county.
“Property taxes are based on value, so it’s important to have all property assessed and reappraised periodically on a uniform bases, since property values change with time,” said New Hanover County Tax Administrator Allison Snell. “Appraisers have assessed 110,000 residential and commercial properties by reviewing photos and measurements and evaluating improvements and deterioration to ensure revaluation is uniform across our community.”
The New Hanover County Tax Department will mail out the 2021 Notice of Assessed Values to all New Hanover County residential and commercial real property owners at the end of February. This notice will inform taxpayers of their new property values for the 2021 tax year. The notice does not include any tax exemptions the property or property owner may be eligible for, and it is not a tax bill. Tax bills will be mailed out in August 2021.
Property owners have the opportunity to appeal their new property value if they feel it is not accurate and have factual supporting information. The fastest way to appeal is through the tax website, where an appeal form can be submitted directly. Before appealing, it is recommended to research the current selling price of comparable property in the area.
The county’s preliminary tax base as of January 1, 2021, before any appeals have been made, is $43.3 billion, compared to $30.5 billion in January 2020 – which is a 30 percent increase. Each individual property’s value may have increased, decreased or remained unchanged in the revaluation.
Detailed Frequently Asked Questions and the appeal process can be found on the Tax Department’s 2021 Revaluation webpage, and a video providing an overview of the process is below.