You may have heard that as of March 2025, Carteret County has released new tax assessed values. Homeowners — be on the lookout as notices will be mailed out by the end of March! Here is a quick rundown of what this means for Crystal Coast property owners:
WHY NEW VALUES? Carteret County is moving to a 4-year period of reassessing value — down from every 5 years. North Carolina has a minimum of once every 8 years. The goal of these new tax assessed values is to be as close to 100% of market value as possible. These values also provide a basis for determining an owner's share of services funded by property taxes, including: education, law enforcement and emergency medical services, health and human services, environmental services and community services.
HOW DID THEY COME UP WITH THEM? According to the official statement released by Carteret County officials, state-certified appraisers examined all properties in the county, verifying property characteristics, analyzing comparable sales, and considering any improvements or changes. These factors, combined with current market trends, were used to determine the new assessed values.
WHAT TO DO: We will not know the financial impact of these new tax assessed values until the elected county and city/town officials set their budgets in June 2025. Once your notice is received in the mail, look over the comparable sales data. If you feel like it is not accurate, you will have 30 days to appeal by providing supporting data (photos, appraisal, contractor quotes that support that the home is in poor condition, etc.). Additionally, Carteret County offers several property tax relief options to eligible residents. These include the Elderly or Disabled Exclusion, Disabled Veteran Exclusion, and Circuit Breaker Tax Deferment Program. Applications for these programs are available online or can be requested by calling the Tax Administration office at (252) 728-8485. The deadline to apply for these programs is June 1, 2025. You can visit the Carteret County Government website HERE for more instructions and details.
Send us an email HERE if you'd like to know more about what your tax assessed value may mean for you — we're always happy to chat!