Why appraise at market value?

North Carolina General Statute 105 - 283 requires counties to assess all property, both real and personal property, at its true value in money. True value shall be interpreted as meaning market value. NCGS 105 - 284 establishes a uniform assessment standard. This standard in effect penalizes counties if they are not assessing property at market value as of the date of last revaluation.

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1. What is a revaluation?
2. Why have a revaluation?
3. Will all property values change during a revaluation?
4. Why appraise at market value?
5. When does the revaluation take effect?
6. Who will do the work of reviewing properties for the revaluation?
7. When can I find out my new tax assessment?
8. Will my taxes change as a result of revaluation?
9. How are market values determined?
10. What if I disagree with my new tax assessment?