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Durham County presents 2025 general reappraisal: median home sale price rose to $419,500
Summary
Tax Administration briefed the Board on the 2025 general reappraisal, citing required statute and market data showing the Durham County median sale price rose from $239,500 in January 2019 to $419,500 in October 2024; staff will supply a neighborhood map and a survey for low‑income relief recipients.
Durham County Tax Administration presented an update on the county’s 2025 general reappraisal at the Board of County Commissioners’ Jan. 6 work session, reviewing statutory requirements and market trends that underlie property valuation changes effective Jan. 1, 2025.
Tax Administrator Keyar Doyle reminded the board that North Carolina law requires counties to conduct a reappraisal at least once every eight years (NCGS 105‑286) and bars changing tax values in non‑revaluation years (NCGS 105‑287). Doyle said the purpose of the reappraisal is to bring assessed values to an estimated 100% of market value and to equalize the tax base, not to increase county revenue.
Deputy Assessor Starlin Beatty told commissioners that median sale prices in Durham County have risen sharply since the previous reappraisal cycle: the January 2019 median sale price was $239,500, while October 2024’s median sale price was $419,500. James Roberts, commercial supervisor, described sector differences: office values and vacancy rates have declined since 2021, multifamily vacancies are near record highs with falling rents, while industrial and certain retail sale‑price‑per‑square‑foot measures have increased.
Doyle outlined outreach and assistance measures intended to help taxpayers, including mailed change‑of‑value notices with inserts, online resources and community outreach sessions. The board directed staff to provide a Durham map showing neighborhood‑level home‑cost increases and to coordinate with the Department of Social Services on a survey for recipients of the Low‑Income Homeowner Relief Program to inform outreach.
Next steps: staff will supply the requested map and the Low‑Income Homeowner Relief Program survey materials to the board for further review ahead of regular session actions.
