Since the last revaulation in 2005, the market value of Orange County properties has increased. This is great news compared to the significant downturn that many property owners are enduring in other less fortunate areas of our nation.

The Orange County Tax Assessor's Office will be releasing the 2009 revaluation estimates online after December 10, 2008, before the official revaluation notices are mailed early in 2009. With earlier input from property owners, the official values will be more accurate and reflect the particular nuances of each property. Look for a letter in your mailbox in late November with additional instructions.

What is a revaluation?

Orange County goes through the process of revaluing or adjusting real estate values every four years. The previous countywide revaluation was effective as of January 1, 2005. The next revaluation will become effective on January 1, 2009.

Property revaluation is the process of recognizing monetary trends between buyers and sellers and reflecting that on similar property. The Tax Assessor's Office is responsible for the revaluation process in Orange County. The office maintains extensive databases of countywide sales activities, can track market trends and recognize value changes within individual neighborhoods. The revaluation process is not creating real estate value but instead is simply recognizing the new value levels.

 To view the new estimates, after December 10, 2008, go to the main Orange County webpage, www.co.orange.nc.us , click on the "What's New" button and follow the link to the new estimates.

The revaluation process can be challenging to understand. If your organization would be interested in having a member of the revaluation team make a presentation to explain the process and answer questions, please call and schedule a date and time (919-245-2100).