Revaluation FAQs

Revaluation is the process of establishing an appraised market value. This gets done for every real estate parcel in the County with mass appraisal techniques.

NC State Law (NCGS 105-286) requires we conduct a countywide property revaluation. This must occur at least once every eight years. Cabarrus County has adopted a four year schedule for revaluation. This more accurately reflects the ever changing real estate market.

Changes in the assessed value of your property may affect your tax bill. Affects aren't known until tax rates are established through the annual budget process. The County Commissioners, individual municipalities and taxing jurisdictions establish tax rates. This process takes place through the spring months and tax rates should be finalized in June.

Revaluations are intended to equalize property tax values for all County property. Real estate property taxes are based on the value of real estate. Real estate markets are ever changing. It is important to update real estate tax values periodically. This ensures all property owners are paying taxes based on their fair market value.

Appraisers from the Assessor's office evaluate property by analyzing

• data collected
• sales transactions
• neighborhood reviews

This establish the fair market value for each parcel of real estate in the County.

Real Estate improvements under construction are partially valued. The valuse is based on its percent complete as of January 1st. These value are added together and used in calculating the tax bill of:

• improvement as a percentage
• land value
• extra features value

Fair market value is defined by NC General Statute § 105-283. "The price estimated in terms of money at which the property changes hands. This exchange is between a willing and financially able buyer and willing seller. Neither would be under any compulsion to buy or sell."

If you agree with the value, there is nothing required for you to do at this time. We do suggest that you review the estimated value of your property. We encourage you to review the appraisal details and sales of property in your area. If you disagree or have any questions or concerns you may wish to contact us or initiate an informal review.

When reviewing your property card, if you discover an error, call our office.

Your appeal should be submitted in writing, either:

• on the form your notice was sent on
• by letter
• through our online appeal system

Nothing specific is required to initiate a review. The more information you have supporting your position, the more effective your review. We will consider all supporting documentation that is provided.

The appraiser for your area will review the information you have provided. Once reviewed, we will respond with a notice of "Informal Review". This Informal Review explains what actions we have taken. It also explains steps to further your appeal to a formal level if we have not satisfied your concerns.

We intend to process reviews and appeals as quickly and efficiently as possible. Response time is determined by the amount of reviews requested. We want to ensure you we are taking the time to adequately respond to all reviews. We will respond in writing upon completion of the review. You will have 30 days from the response notice to further your appeal if necessary.

Tax bills are typically created and mailed towards the end of July or first part of August.

Tax bills are due on September 1. They are considered past due if not paid prior to January 5.

Tax bills are in the name of the owner as of January 1 of the tax year. If you have sold the real property forward the bill to the new owner.

There is no flat percent change applied to property values. Each property is valued at its fair market value as of January 1, 2024, regardless of its prior assessment. While most real estate values have appreciated over the last 4 years:

• some have increased significantly
• some have increased slightly
• others have remained nearly the same or even decreased

The amount of change from one revaluation to another is not a valid reason for appeal.

Real estate value can be found by searching through our online real estate search system. You can search by name, address, or parcel information.

If you need to list real estate changes, do so on your Personal Property listing form. This form is available during the month of January each year. Visit Individual Personal Property Assessment for more details.