Wake County is taking the next step toward its 2027 property revaluation, the countywide process of updating property values to reflect current market conditions. Today, the Board of Commissioners 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.
Wake County changed how often it updates property values, moving from a four-year cycle to a more frequent schedule that better reflects the County's growth and shifting real estate market. The next revaluation will take effect Jan. 1, 2027, and future revaluations will happen every two years starting in 2029.
"We understand that a property revaluation can be a stressful process for many residents," said Wake County Tax Administrator Marcus Kinrade. "By updating values more often, the County’s assessed value will more closely align with market value and create a fairer, more predictable property tax system. Market shifts affect property types differently. More frequent revaluations ensure all property owners pay their fair share of property tax.”
Property taxes are based on two factors: a property's assessed value and the tax rate set by elected county and municipal officials. Revaluation updates a property's assessed value to reflect its market value. It does not set or change the tax rate.
The tax rate is expressed as a dollar amount for every $100 of assessed value. A property's tax bill is calculated by multiplying its assessed value, as set by revaluation, by the tax rate set by elected officials.
Tax Administration staff began preparing for the 2027 revaluation in 2025. Several key steps are already complete, and work on the remaining phases continues:
- Neighborhooding: Appraisers group properties into neighborhoods based on shared characteristics, such as age, style and construction quality, since these properties tend to respond similarly to market changes.
- Land and Building Pricing: Appraisers study recent property sales to determine current market values and measure how features such as size and condition affect value.
- Field and Office Review: Staff review all properties built before 2000 in person and review other properties in the office to help ensure values reflect current market conditions. The results are compiled into the Schedule of Values, which the Wake County Board of Commissioners must approve before it takes effect.
- Notice of Assessment and Appeal: Wake County Tax Administration plans to present the revaluation results to the Board of Commissioners on Jan. 19, 2027. A few days later, property owners will receive their updated assessed values by mail, along with information on how to file an appeal if needed.
Additional information can be found at wake.gov/revaluation, including answers to frequently asked questions, timelines and a comprehensive overview video. Tax Administration offers a fully staffed call center. Residents who have questions or concerns are encouraged to visit taxhelp.wake.gov, email revaluation@wake.gov or call 919-857-3800.
