What is the difference between Reappraisal and Revaluation?

Nothing. NCGS 105-286 states that each county must reappraise all real property at least once every eight years. The Reappraisal process is appraising or valuing property at its true market value as of a certain date in time. Many tax offices will use the term 'revaluation' instead of 'reappraisal' and one is not more right than the other. We will see the term 'reappraisal' referred to in the statutes while simultaneously referring to it as a 'revaluation' internally. Both mean the same, one is just more formal than the other.

Show All Answers

1. What is the purpose of the revaluation program?
2. When do the new property values go into effect?
3. What is the difference between Reappraisal and Revaluation?
4. How will I be notified of any property value change?
5. What was the process for determining my property value?
6. Where did New Hanover County get their comparable sales and or basis for value?
7. What if I disagree with the revaluation of my property?
8. What are the steps to appeal my property value?
9. When is the deadline to appeal my 2021 assessed value?
10. Would I need multiple appeal forms to appeal multiple properties?
11. Why did my value go up over a year?
12. Why isn’t my value the same as the sale price I paid for it?
13. How does revaluation equalize the tax burden?
14. What effect will the revaluation project have on tax bills?
15. What tax rate will be used for 2021?
16. What percent of value does NHC tax on?
17. When is the next County Revaluation?