Real Estate Tax Value Change in Onslow County

So homeowners in Onslow County should have received a new "Notice of Real Estate Assessed Value" in the mail.  Every four years, the tax office reassesses property tax values and they determine the value based on an average of recent sales in that community.

The last time the assessment was performed in Onslow County was 2010.  The real estate market was completely different then- we hadn't started seeing the large amount of foreclosures and short sales that we're experiencing now, and there were many more new construction communities sprouting up everywhere.  So the 2010 assessment would be more a little more inflated than the 2014 assessment.

What does this mean for homeowners?

Well, the budget for the county will be set in June, which means they can either increase, decrease or keep the tax rate the same to meet the budget's needs.  So, theoretically, the tax values of real estate might have gone down and the tax rate might go up- but the point is to meet the budgetary needs.

The tax value does not necessarily constitute market value, however!  Our real estate market in the Jacksonville, NC area changes about every three months.  So a four year assessment can't accurately reflect real estate market values.  The only two ways to get a good idea of market value is to get an appraisal, or a comparable market analysis.  Appraisers are the only ones licensed to perform an appraisal and the cost ranges between $400-$600.  If you're interested in receiving a comparable market analysis click here!  I'd be happy to help with any confusion or doubts concerning the different values you might be seeing!  Keep in mind that real estate market value (determined by what things are selling for, how long it took them to sell, and how many more homes are on the market) and real estate tax value in Onslow County are two completely separate things.

Call Amanda Parmer for all of your real estate needs!  910.545.0450.  If you're unsatisfied with your current tax value, there is a method to appeal- contact Amanda for more info!