Scope of the 2025 Reassessment
In North Carolina, property tax reassessments occur on a county-by-county basis, typically on a 4- or 8-year cycle. For the 2025 cycle, a range of counties are conducting reassessments for the first time since before the COVID-19 pandemic, including key commercial markets such as:
- Durham County (now a 4-year cycle)
- Forsyth County (4-year cycle)
- Cumberland County (8-year cycle)
- New Hanover County (4-year cycle)
These counties represent a substantial portion of the state’s commercial real estate tax base. Assessments are based on market conditions as of January 1, 2025, and will be reflected in values used for Tax Year 2025 billing.
Key Reassessment Facts
Final appeal deadlines are tied to actual mailing dates. DMA will provide updates as notices are issued. Last updated 4/24/2025.
| Valuation (Lien) Date | January 1, 2025 |
| Tax Years Affected | Durham: 2025-2028 Forsyth: 2025-2028 Cumberland: 2025-2032 New Hanover: 2025-2028 (most NC counties on a 4- or 8-year cycle) |
| Jurisdictions Affected | Numerous counties including Durham, Forsyth, Cumberland, and New Hanover |
| Assessment Notices Expected | January – April 2025 (varies by county) |
| Appeal Deadlines (Informal / Formal) | County-specific—most fall between late May and early June Durham: June 16, 2025 Forsyth: June 30, 2025 Cumberland: May 28, 2025 New Hanover: May 22, 2025 |
Valuation Outlook
The 2025 reassessment cycle marks the first full update in many counties since before the pandemic. Property types have experienced vastly different trajectories during that time, and mass appraisal methods may struggle to keep pace with market nuances.
Expect assessors to rely on broad modeling that may not fully capture income recovery timelines, interest rate impacts, or demand shifts. While North Carolina’s revenue-neutral tax rate law may soften the impact of rising valuations on actual bills, commercial property owners should expect notable shifts and review assessments carefully.
Valuation Trends by Property Type
| Property Type | Expected Trend | Notes |
|---|---|---|
| Office | ↓ or Mixed | Rising vacancy and remote work have depressed demand in many areas. Older buildings face heightened overassessment risk under mass appraisal. |
| Multifamily | ↑ | Strong performance overall, though some markets may show cap rate pushback due to interest rates. Caution if values are based on trailing peak NOI. |
| Retail | Mixed | Grocery-anchored and experiential retail outperform, while traditional strip centers lag. One-size-fits-all adjustments may misstate value. |
| Industrial | ↑ | High growth in logistics and warehouse demand continues. Overvaluation risk exists where assessors rely on lagging data or market-wide assumptions. |
| Hospitality | ↑ (in tourism counties) | Demand rebounded sharply, but income volatility remains. Valuations may either lag or overcorrect, depending on modeling choices. |
DMA will continue monitoring how these trends are reflected in actual assessments and will flag opportunities where valuations appear inflated or misaligned with current market data.
Why Early Preparation Matters
Reassessments often lead to thousands of appeals being filed across affected jurisdictions. Many offer an informal review period ahead of the formal appeal deadline—making early engagement especially valuable, as it can lead to faster, lower-cost resolutions.
Working with DMA before notices arrive allows property owners to review projected assessments, prepare documentation, and respond quickly and confidently if a protest is warranted. With deep knowledge of local policies and valuation trends, our experts help clients avoid overassessment and navigate both informal discussions and formal appeals.
North Carolina Property Tax Expertise
Connect with DMA’s North Carolina property tax experts to evaluate your 2025 real estate reassessments. With appeal windows closing quickly, proactive review is key to identifying risks and opportunities—and ensuring your properties are fairly assessed through the next reassessment year.
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| This website content should be used for general informational purposes only, and not as a substitute for consultation with professional tax, legal, or other competent advisors. Before making any decision or taking any action based upon information contained on this website, you should consult with a DMA professional. |