Wake County approves shorter revaluation periods, next revaluation in 2027

Wake County leaders are shortening the revaluation cycle for homes in the county.

On Monday, The Wake County Board of Commissioners approved a change to the property tax revaluation cycle.

Revaluations are used to assess the current market value of homes in a county. Counties hold revaluations at different times, such as Wake County, which had its most recent property revaluation in 2024.

Under the new changes, the county will move to a more frequent cycle. – first to a three-year cycle and then to a two-year cycle.

Wake County previously did property revaluation every four years.

The next property revaluations will be effective on Jan. 1, 2027, and then again on Jan. 1, 2029.

The county said the shift would allow property valuations to become more routine for property owners and reduce the sticker shock from significant adjustments over the next four years.

“We heard clearly for our residents after the 2024 revaluation that dramatic jumps in property values created financial uncertainty for many families,” said Wake County Board of Commissioners Chair Susan Evans.

“Moving to a shorter cycle will help smooth out these increases over time, making the process more predictable and fair.”

In 2024, Wake County residents saw property values jump by an average of 51% compared to 2020, with some property values jumping by more than 60%.

“Wake County continues to experience substantial growth in new residents and construction,” said Marcus Kinrade, Weak County tax administrator. “Infrequent revaluations that lead to a large value increase can cause significant tax bill fluctuations in a revaluation year.”

County commissioners said more information on the tax revaluation process, including important dates and frequently asked questions, can be found on the Wake County Tax Administration website.