The Wilson County Tax Administration will be hosting two public meetings in the month of March to review the 2024 revaluation, revaluation notices, and any other assessment questions. The meeting details are as follows:

March 12, 2024, 6:00-7:30 PM at Fike High School Auditorium, 500 Harrison Dr. Wilson, NC

March 19, 2024, 6:00-7:30 PM at Hunt High School Auditorium, 4559 Lamm Rd, Wilson, NC  

Revaluation is the process of reappraisal that updates the assessed value of each property to market value. A revaluation must be done at least once every eight years according to the North Carolina General Statute § 105-286. Wilson County is currently on an eight-year cycle. The goal of a revaluation is to appraise all property at its current market value so that all tax assessments are uniform, fair and equitable for all taxpayers. 

Market value as defined by the “Machinery Act of North Carolina” under G.S. 105-283 Uniform Appraisal Standards is “the price estimated in terms of money at which a property would change hands between a willing and financially able buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of all the uses to which the property is adapted and for which it is capable of being used.”

Property values are not created or set by the appraiser or the Tax Office. People who buy and sell real estate in the open market establish market values. Our North Carolina State certified in-house appraisers diligently and carefully researched and analyzed those sales in our local market to determine an estimate of market value for all properties, as we are required to do by law. Depending upon the data available and the type of property being appraised, there are several methods an appraiser may use to determine value:

• Sales Comparison Approach - This is the method most commonly used and it compares your property with a similar one, less any depreciation.

• Cost Approach - This method determines how much it would cost to replace your property with a similar one, less any depreciation.

• Income Approach - This method determines the value of income producing properties, such as apartments, based upon the amount of income the property generates. 

Each property owner will receive a Change of Value Notice indicating the new property appraisal. The value contained in the notice represents a fair market value as of the effective date of the appraisal. The effective date for Wilson County will be January 1, 2024. The new values will be reflected on the tax bills in August, 2024.