Understanding the 2025 Property Tax Reassessments in Durham, Orange, and Chatham Counties

If you’re a homeowner in the Triangle, you’ve likely received a 2025 property tax revaluation notice. This year, Durham, Orange, and Chatham counties all conducted county-wide reassessments to update property values. Whether you're surprised by the new assessed value or just trying to understand what it means for your tax bill, here's what you need to know.

Why Reassessments Happen

North Carolina counties are required to reassess properties periodically to ensure that property taxes are distributed fairly. These reassessments are meant to reflect the market value as of January 1, 2025, using mass appraisal methods. They account for changes in market conditions, improvements, and general appreciation or depreciation.

The Tax Rate Isn't Set Yet

It's important to note that a higher assessed value doesn’t necessarily mean you’ll pay more in property taxes. That’s because the tax rate -- the other half of the equation -- is determined separately and later in the year. Each county’s Board of Commissioners sets the tax rate based on its annual budget. So until the new rate is adopted, your final tax bill remains an estimate.

Assessed Value vs. Market Value: What's the Difference?

While they may sound similar, assessed value and market value serve different purposes. The assessed value is determined by the county for taxation purposes -- it’s meant to reflect what your property would have sold for on January 1, 2025, using mass appraisal methods. The market value, on the other hand, is what a buyer would be willing to pay today. While they’re often close, they can diverge due to recent renovations, neighborhood changes, or unique property features. If your assessed value feels out of step with reality, you may want to explore the appeals process.

Should You Appeal Your New Assessed Value?

If you believe your property's new assessed value doesn't accurately reflect its market value, you have the right to appeal. Please visit your county's tax website for more information and important deadlines. 

• Chatham County
• Durham County
• Orange County

Before filing an appeal, it's important to compare your assessed value to a recent fee appraisal (from a HELOC, for example) and/or recent sales of similar properties in your area. Feel free to reach out to us for assistance with this, if needed. 

Pros & Cons of Appealing

If your appeal is successful, your property's assessed value -- and consequently, your tax bill -- may be reduced. In past revaluations, a significant percentage of appeals resulted in lowered assessments. Appealing can also correct any errors in your property's assessment, ensuring you're taxed fairly.

However, you should be aware that the appeals process requires gathering evidence and possibly attending hearings, which can be time-consuming.​ While rare, there's also a possibility that an appeal could result in a higher assessed value if the review determines the property was undervalued during the mass appraisal process. ​

Final Thoughts

Tax reassessments can feel overwhelming, especially when they coincide with shifting market conditions. But they also offer an opportunity to make sure you're being taxed fairly. If you have questions about your new assessment, how it might impact your budget, or whether an appeal is right for you, don’t hesitate to reach out. As full-time real estate professionals, we're here to help you navigate the numbers with confidence.