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Played in the Hornets home arena, Charlotte played host to first and second-round matchups including UNC vs. Michigan State.
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Follow this link to purchase tickets for Green Hope Athletic events
Played in the Hornets home arena, Charlotte played host to first and second-round matchups including UNC vs. Michigan State.
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Brinley Zalc (’24) is #5 on the womens soccer team and defends against an opponent from Athens Drive. Photo used with permission from Brinley Zalc.
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Follow this link to purchase tickets for Green Hope Athletic events

Wake County housing revaluation sparks controversy

The 2024 Wake County property assessment informs homeowners of increased property taxes.
Wake+County+property+taxes+are+being+adjusted+to+reflect+a+general+rise+in+property+value.+Photo+used+with+permission+from+Tierra+Mallorca+via+Unsplash.+
Wake County property taxes are being adjusted to reflect a general rise in property value. Photo used with permission from Tierra Mallorca via Unsplash.

“Outrageous” and “unaffordable” are terms used by residents to describe the real estate evaluation that occurred across Wake County throughout January. 

As required by North Carolina state law, Wake County reevaluates the value of all real estate every four years to ensure that properties are taxed fairly and in proportion to the local region. The factors that are considered when the revaluation occurs include neighboring, the price of land and buildings, field and office interviews and a notice of assessment sent to real estate owners. The ability to appeal the reevaluation is also available. 

The quality and appeal of a neighborhood and the surrounding areas is a contributing factor to how much the property is valued. Although the price of buildings doesn’t usually fluctuate, the value of property can fluctuate based upon the price of surrounding developments. For instance, an acre of land may be worth five unit, but if a decade later, a major city were to rapidly develop on the acre, the value of that acre would go up several units due to its proximity to the city. Access to services and resources not as readily available to rural residents drives up prices. 

Not all property values increase at the same rate, however. The value of a house at the end of a closed-off street may grow less than the neighboring houses closer to the entry point of the neighborhood. In order to ensure that relative location is taken into account when calculating property value for the purpose of taxation, Wake County employs a team of professionals that visit houses to determine an adjusted property value. 

Furthermore, property owners can also request both an informal and a formal review of the property evaluation. The deadline for property owners to request informal reviews for their property is March 1. The deadline to submit a request for review to the board of equalization and review is May 15. 

Although every state mandates property taxes, certain states don’t include certain taxes. In New Jersey, most foods and drinks are exempt from the standard sales tax that applies to consumer goods and there is also no personal income tax. North Carolina, on the other hand, has a state-wide 4.75% tax rate. The way that property taxes are evaluated and the contribution expected from property owners can vary based upon the political ideology of public office officials and legislators. 

Nancy Haywood, a public leader in the Rotary Club of Cary, emphasized the importance projects that property taxes fund. “I agree with paying property taxes. Overall, they help with our infrastructure, and without them I do not think our government could perform the duties that are needed.” Taxes that are collected by city, county, state and the federal government are often spent on various public interests such as education, infrastructure, parks and law enforcement. 

Haywood, however, expressed a belief that property taxes should be incrementally increased, rather than drastically changing from one year to another. “If I could change one thing about our property taxes, it would be that there would be a slow incline every year versus drastic increases like we’re seeing this year,” she said.

Changes in housing reevaluations affect Wake County residents in particular, due to the region’s rapidly expanding cities. As geographic and social factors continue to change in the region, housing values and property tax amounts will continue to change. 

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About the Contributor
Armaan Minhas, Staff Writer
Armaan is a senior at Green Hope and this is his first year as a staff member of the GH Falcon. Armaan is a member of NHS and the President of Social Studies Honor Society. He enjoys playing sports and is on GH’s Football and Track & Field teams. Outside of school, Armaan takes part in a Navy program called the Naval Sea Cadet Corps. In his freetime, he loves to hang out with his friends, watching football and doing outdoor activities such as hiking, fishing, and disc golf.
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    Vicki HallFeb 22, 2024 at 1:30 pm

    The rate hikes for the Town of Cary for this year are terrible. My taxes have never been this high and as a senior citizen commenting on this, the rates are to high for our neighborhood as well as a lot of the neighborhoods in Cary.

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