How does the county assessor determine “taxable value”?
Property values change over time and must be adjusted periodically to maintain balance and equity. To ensure that balance and equity are maintained, the State of North Carolina required real property be reappraised at least every eight years. The Chatham County Board of County Commissioners has voted to reappraise real property once every four years. Real property in Chatham County was revalued effective January 1, 2009. For more revaluation information, go to our Revaluation page. Real Estate values should reflect the market value of properties at the time of the last reappraisal. Real property values usually increase over time; however, not all properties increase at the same rate. Some property values may decrease in value. Due to these changes occurring, a revaluation process is necessary to reflect market value and maintain balance and equity.
