UNION COUNTY, N.C. — Homeowners in Union County are seeing the largest increase in property values ever recorded, with values rising by 60% this month.
This significant rise in property values nearly doubled the increase seen during the 2021 revaluation, which was 35.5%.
“We have a lot of people in this area that have moved in. I understand that. I like living here, too,” said resident Linda Taylor.
Taylor is now faced with the largest property value increase ever.
“One piece of property that I have, in particular, went from $169,000 to $834,000, so that was substantial,” Taylor said.
She said that is high. The land doesn’t have sewer or water services.
“I plan to appeal,” she said.
Union County reviewed more than 114,000 properties.
The town of Wingate experienced the most substantial increase, with property values climbing by an average of 71%. In Wingate, median home values have surged from $172,000 to $265,000, reflecting the area’s growing appeal and market demand.
“There’s a lot of sticker shock,” said Van Harrel, the tax administrator at Union County.
The housing market has been driving up prices across the county for the last five years, he said.
Union County commissioners have historically lowered the tax rate to counteract the increased values, Harrel said.
They’ll decide on the new rate this summer.
As of Friday, the county has received 1,300 appeals. The county expects to receive up to 11,000. Union County has received less than that in the past.
Click here for information on the appeals process.
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