RALEIGH, N.C. (WNCN) – A lot can change in four years since the last county real estate evaluation, especially across rapidly growing Wake County.

Wake County leaders are poised to take up the Schedule of Values on Oct. 16, which is a key tool in helping the county revaluate more than 425,000 property values across 5,100 neighborhoods for 2024.

“This past four-year cycle has been very active. Values increased dramatically the first two years and then slowed down the second two years,” Wake County Tax Administrator Marcus Kinrade, said. “Most all residential values will increase to some degree or another. Some commercial properties, particularly some office properties, may decrease in value. Vacancy rates of offices are up a lot.”

According to the county, more than 85% of the county’s tax base will be impacted by revaluation.

Home and property owners can expect to receive a notice by mid to late January.

“When they receive their notice in January, take a deep breath. Don’t panic,” Kinrade said. “We will have a call center up and running. We’ll have our staff answering emails if they have any questions, they’re welcome to call, email.”