New Hanover County 2025 revaluation shows steep property value gains; appeals, relief options explained

The New Hanover County Board of Commissioners received a presentation Feb. 18 on the county's 2025 property revaluation, which shows large market-driven increases in assessed values across most property types.

The reappraisal team told commissioners that, comparing parcels that existed in 2024 to their new 2025 market values, the residential market shows an average change of about 67.23% and a median change near 59.4%. The overall county averages reported were roughly a 67.15% average increase and a 59.04% median increase; commercial changes track closely with residential growth, the presenter said.

The findings matter because assessed values form the tax base used to calculate property tax bills. The county will mail property value notices to owners on Feb. 28; the Board of Equalization and Review will convene April 24 and sit through May 22 to hear appeals. Tax bills will be mailed in July after the county sets the final tax rate.

County staff outlined how revaluation works in North Carolina: local reappraisal programs must appraise property to fair market value at least every eight years, and New Hanover County conducts revaluations every four to maintain…