What does the revaluation process look like?

People who buy and sell real estate in the open market establish market values. Our North Carolina State-certified in-house appraisers diligently and carefully research and analyze those sales in our local market to determine an estimate of market value for all properties, as we are required to do by law.

Depending upon the data available and the type of property being appraised, there are several methods an appraiser may use to determine value:

  • Sales Comparison Approach - This is the method most commonly used and it compares your property with a similar one, plus or minus any adjustments.
  • Cost Approach - This method determines how much it would cost to replace your property with a similar one, less any depreciation.
  • Income Approach - This method determines the value of income-producing properties, such as apartments, based upon the amount of income the property generates.

Show All Answers

1. What is a revaluation?
2. Why is Brunswick County revaluing properties?
3. When does the 2023 revaluation go into effect?
4. What does the revaluation process look like?
5. Can I opt out of the revaluation and/or qualify for relief?
6. How will my property value change?
7. How will revaluation affect my tax bill?
8. How can I determine if my new value is correct?
9. After I receive my notice of assessed value, how can I compare my new value to my old value?
10. What if I have questions about my new value?
11. How can I appeal my new value?