Each county in North Carolina is required to conduct a countywide property revaluation at least every 8 years, although a county may choose to revalue on less than an 8-year cycle. Dare County chose to advance the effective date from 2021 to 2020, resulting in a seven-year cycle. Dare County's last revaluation was effective January 1, 2013, and this will be effective January 1, 2020.
This document is commonly referred to as the Schedule of Values, even though there are no individual property values listed here – that is not the intent or purpose of this document. It is actually the schedule of standards, rules, methods, and procedures that forms the basis for the valuation of all land, buildings, and other improvements considered to be real property in Dare County. Effective January 1, 2020, property assessments will be based on the methods outlined in the 2020 Schedules, Standards, and Rules (Schedule of Values) until a new schedule is approved prior to the next countywide revaluation.
This document has been developed from local market conditions in Dare County, using standard mass appraisal techniques and methodology, with statutory requirements as its basis. The proper application of the schedules, standards, and procedures outlined within this document will result in property assessments that reflect the fair market value of each of Dare County’s 41,400 taxable parcels, and 2,100 exempt parcels.