2023 Brunswick County Revaluation
Here are definitions, information, and answers to frequently asked questions we receive related to the 2023 Brunswick County Revaluation (Reappraisal).
If you would like to speak with someone about the revaluation process or have a question that is not answered below, call the Brunswick County Tax Office at (910) 253-2811 anytime Monday through Friday from 8:30 a.m. to 5 p.m. or email firstname.lastname@example.org.
Note: Definitions for commonly used terms can be found at the bottom of the page.
Frequently Asked Questions
What is a revaluation?
A revaluation (also known as a reappraisal) is a routine update to property tax values to bring them back in line with the current sale price of properties.
Why is Brunswick County revaluing properties?
Revaluations are required by North Carolina Law. North Carolina General Statute § 105-286 requires each county to conduct a revaluation (reappraisal) at least once every eight years to reflect current market value. Many counties including Brunswick County conduct their revaluations every four years. The last revaluation was effective January 1, 2019.
When does the 2023 revaluation go into effect?
The 2023 revaluation will go into effect Jan. 1, 2023. You will receive your revaluation (reappraisal) notice sometime in the first quarter of 2023. The new values will be reflected on the tax bills received in July/August 2023.
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.
Can I opt out of the revaluation and/or qualify for relief?
North Carolina General Statutes does not allow anyone to opt out. However, some property owners may qualify for the following property tax relief programs. Click here to learn more about these programs.
- Homestead Exclusion
- Homestead Circuit Breaker
- Disabled Veterans Exclusion
- Present Use Classification – Agricultural, Horticultural, and Forestland
How will my property value change?
Property values will not change uniformly throughout the county. Depending on market conditions and recent sales in your neighborhood, your assessed value may increase, decrease, or remain the same. Due to the strong real estate market throughout the country, it is likely that many properties will rise in value, but again, this could differ per area and type of property.
How will revaluation affect my tax bill?
The effects of the 2023 revaluation on your next tax bill cannot be determined until operating budgets are adopted and the county and municipal governing bodies have set tax rates for the next fiscal year. Budgets are adopted and tax rates are set prior to July 1 each year.
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 residents of the county require
- The tax rate set by the Brunswick County Board of Commissioners and your municipality (if you live in an incorporated town, city, or village) to meet the cost of government-provided services
Revaluations do not reflect what a property owner’s tax bill will be. The assessed value of your property is only one factor that impacts your property tax bill.
Tax rates are set by the Board of Commissioners and municipalities’ elected officials annually as part of their fiscal year budget cycles. The next county and municipal tax rates will be set prior to July 2023.
How can I determine if my new value is correct?
You can review recent arm’s length sales of properties similar to yours in your neighborhood. You can find comparable information by visiting tax.brunsco.net/itsnet/Sales.aspx and using the sales search feature.
After I receive my Notice of Assessed Value, how can I compare my new value to my old value?
Your parcel’s old value can be found on its property tax record card, which can be accessed at property.spatialest.com/nc/brunswick#/. You can search by parcel ID, address, or owner name. You can also search by using the Map function. To use this function, select the Map button, select the Info button, and then zoom in and click on the property you are looking for.
What if I have questions about my new value?
How can I appeal my new value?
Learn more about how to request an appeal and see answers to frequently asked questions on our Request Appeal webpage.
|Revaluation (also called reappraisal)||A revaluation is a routine update to property tax values to bring them back in line with the current sale price of properties.|
|Fair Market Value||The price that property would sell for in the open market between a willing seller and a financially-able buyer, neither being under any compulsion to buy or to sell, and both having reasonable knowledge of the purposes for which the property may be used.|
|Appraised Value||An appraised value is assigned to a property by a professional real estate appraiser. The appraised value of your home represents the home’s fair market value (what a buyer might expect to pay if you listed your house for sale on the market).|
|Assessed Value||Assessed value equals the appraisal or fair market value less any deferred or exempt value.|
|Municipality||A municipality refers to an incorporated village, town, or city that’s usually governed by a mayor and council. There are 19 municipalities in Brunswick County.|
|Revenue Neutral||Revenue neutral is the tax rate that would bring in the same tax dollars using the new market values as compared to the old tax rate using the old market values. Increased values do not result in increased tax revenues when the tax rate is set at the revenue neutral rate.|
|Property Tax |
(also called ad valorem tax or millage rate)
|Property taxes are the annual amount a landowner pays to local taxing bodies like cities, counties, fire agencies, etc. to support the services those entities provide to residents. They do not include fire fees.|