At this time, the effect of revaluations on tax bills is unknown. There are three factors that determine how much tax each property owner must pay:
- The assessed value of the property.
- The cost of local government-provided services that the citizens of the county require.
- The tax rate set by the New Hanover County Board of Commissioners and each municipality (City of Wilmington, Town of Carolina Beach, Town of Wrightsville Beach, and Town of Kure Beach) to meet the cost of services.
The revaluation’s effect on your tax bill cannot be determined until operating budgets are adopted and the governing bodies have set tax rates for New Hanover County and the various municipalities. Budgets are adopted and tax rates are set prior to July 1 each year. Historic tax rates can be located on the Tax Department Historic Tax Rates website.