Raleigh Property Values Jump 49%

November, 19, 2007 , by Jedidiah

It has been 8 years since the last assessment of property values in Wake County and it shows via the new numbers that were released this week. Various news outlets are producing different numbers for the county average as a whole, but one thing is certain; Raleigh-proper led all surrounding towns with a 49% increase. According to WRAL, Cary and Morrisville came in a distant second at 38% and it trickled down from there. I’m sure many homeowners are seeing dollar signs like Scrooge McDuck, but not so fast. With a rise in property values, comes a rise in property taxes and that may bring out the Scrooge in us all very quick. The N&O is also reporting that all homeowners in the county will “receive written notices” which “are not bills” stating the new value of their home and land. If you don’t want to wait, you can check your newly assessed value here now.

With the downtown construction boom, it is certain that this has affected the value of many homes in and around the urban grid. It would be interesting to see a concentric circle diagram of percentage increases, with the Capital Building as the center point. This seems to be a healthy increase for the city and not much different than the 1992-2000 increase, let’s hope it stays strong or we’ll be quoting McDuck; “I can’t go on like this - losing a billion dollars a minute! I’ll be broke in 600 years!”

Or 8 years.