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 am to 5 pm or email the Tax Office.
- 2023 Schedule of Values - Adopted by Board of County Commissioners (PDF)
- 2023 Revaluation Brochure (PDF)
- 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.
- 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.