The Assessor evaluates all property subject to taxation. The Assessor is required by North Carolina law to list, appraise and assess all property within the county at 100% of market value. In addition to the over 58,000 parcels of real property (land, homes, commercial buildings), the Assessor must value business personal property (approximately 7,000 businesses, ranging from multi‐million dollar enterprises to one person operations). There are over 7,549 manufactured homes, over 77 aircraft and over 26,129 boats, motors and jet skis and any other personal property which is taxable. There are over 6,500 motor vehicles which are billed monthly.
The Carteret County Tax Assessor’s Office creates over 150,000 tax notices annually. Because there is such a volatile real estate market, reappraisal for Carteret County is done every four years. The 2020 Revaluation will include the use of county maps, aerial photography, street level images, sales analysis, field visits, and other tools to gather data used in determining fair market value. Carteret County appraisers will review and analyze the information including comparable sales within your neighborhood.
Market Value is the most probable or most likely price that the property would sell for. It is not the highest, lowest or average price. It requires a willing buyer and a willing seller with neither under any pressure to buy or sell. It implies that the buyer and the seller are fully informed of all the purposes to which the property is best adapted and is capable of being used. It recognizes the property’s current use as well as its potential use.