D
urham homeowners are bracing for a significant financial impact as the county prepares to mail out reappraisal notices reflecting the pandemic-driven housing boom. The last revaluation was in 2019, and since then, Durham has seen an unprecedented increase in property values.
According to Keyar Doyle, Durham County's Tax Administrator, the local real estate market is the primary factor behind this surge. "Over the last six years, Durham has experienced an increase it has never seen before," he said. Population growth and people moving to the area have also contributed to the supply and demand imbalance, driving up prices.
The county's median sales price jumped 74% from $239,500 in January 2019 to $416,000 in December 2024. Doyle expects the revaluation to result in increased property values, with some areas experiencing a 75% increase since 2019.
Homeowners are concerned about the impact on their tax bills and have been discussing the reappraisal process with county staff. The appeals process and tax relief programs will be available for those who need them. Doyle emphasized that redevelopment and gentrification also play a role in property value increases, particularly in historically black neighborhoods.
Stella Adams expressed concern that low-income homeowners, many of whom are elderly and on fixed incomes, may struggle to pay increased taxes. The county administers three state programs that provide tax relief for eligible residents, including the Elderly/Disabled Homestead Exemption and the DSS Low Income Homeowner Relief (LIHR) Program.
The reappraisal is only focused on tax value, which will be combined with the tax rate to determine the new tax bill. The county will begin budget hearings in March to determine the tax rate, with a new budget adopted later this summer. Residents can expect their notices as soon as next Friday, and they have until mid-June to appeal.
"This is a historic real estate market that has directly impacted our value across the whole county," Doyle said. "There are no market areas that will not be affected by this increase in value."
