PENDER COUNTY — Framework for the 2026 property reappraisals in Pender County are moving ahead after an initial vote failed due to concerns over a spike in market values.
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Pender County Board of Commissioners passed the schedule of values technical standards in a 4-1 vote at its Dec. 1 meeting, with commissioner Jerry Groves dissenting.
The schedule is basically a guideline appraisers use to determine fair market costs for a property. It explains how to estimate the cost of a home or building, adjust for the local market, and account for property features and land type. County commissioners legally have to agree to the framework or else the revaluation process is effectively halted.
The vote initially stalled after newly appointed Vice Chair Brad George’s motion to approve didn’t receive a second. Commissioners didn’t approve the schedule at first over concerns a large jump in property values would cause severe financial distress for residents, particularly those on lower or fixed incomes. Ultimately, though, it passed toward the end of a four-hour meeting after commissioner Brent Springer brought the vote back to the table.
“I hate to see the taxpayers dollars go to waste if it’s going to have to be redone,” Springer said.
The schedule will be in effect through 2033; by law, the county has to reappraise all real property at least once every eight years, though the majority of counties do it more frequently. The board voted in the spring to change its revaluation cycle from a four-year schedule to a seven-year schedule, though the new cycle will only take effect after the 2026’s reappraisal.
Failure to certify the schedule would have forced the county to continue using outdated property assessments from 2019 to set the 2026 tax rate. The delay would essentially waste nearly $2.4-million in funds the county had already spent over two years preparing the schedule. This is because the property sales data analyzed for the planned 2026 effective date would become obsolete, requiring contracted appraisal firm Vincent Valuations, LLC, to collect and process an entire additional year of market sales.
Commissioners approved a contract with Vincent Valuations in September 2023 to conduct the 2026 reappraisal at $44 per parcel, totaling about $2.3 million for around 50,000 parcels. The firm handles most of the work including field reviews, data collection and creation of the schedule.
Owner Ryan Vincent explained rising property values do not automatically mean a tax increase. The schedule only establishes property value, while the amount a resident pays in county taxes is determined by the commissioning board, who set tax rates annually.
Speaking during public comment, resident Frankie Saunders cautioned the board on their decisions in the reappraisal process, wanting to ensure the next property tax rate is fair for all residents.
“I know property values are rising, we all do, but that cannot become an automatic tax increase,” Saunders said. “That’s not what revaluations are meant for, and it’s not what our Pender County citizens can bear right now. If values go up, the tax rate must come down to match. Otherwise, folks will feel it in ways this board may not fully realize.”
Chair Randy Burton addressed Saunders’ concern, emphasizing the board’s commitment to mitigating impact.
“The folks that currently have property that they’ve had for many years, that they have not improved … they shouldn’t be getting a tax hike, and I will, on the record, support that I will not be in favor of a tax hike for the citizens of Pender County — period,” Burton said.
Vincent explained the goal of the reappraisal is to determine the market value — the price a willing buyer would pay to a willing seller for a property. He detailed the methodology in the schedule, which uses a multi-step approach to value different property types.
For residential properties, the main way value is assigned is a two-step calculation called the market-adjusted cost approach. Appraisers first estimate how much it would cost to rebuild the property today, then adjust that figure based on recent sales of similar homes nearby to reflect the local market.
Groves asked Vincent how appraisers handle specific scenarios, such as when an older house is between two brand new homes. He pressed for an estimated overall percentage increase for property values in the county.
Vincent confirmed properties are treated individually, but said he could not provide a firm number or average increase yet.
“We don’t share those numbers until the very end because, for example, if I were to give you a number tonight, and that number changes two weeks from now — three weeks from now, a month from now — then I’m held accountable to a number that I present,” Vincent explained. “We base our values off of sales that occur all the way through the end of December, so some of the sales that we’re going to use on our appraisals haven’t even occurred yet.”
Data from Cape Fear Realtors shows the median home sale price in Pender County rose about 44% in four years, from $330,214 in 2020 to $475,000 by December 2024.
Commissioner Jimmy Tate questioned how the reappraisal would remain fair, given different growth rates countywide, particularly between coastal and rural areas. Vincent confirmed their models compare like-to-like properties.
“So, for example, we’re not going to take a house that’s sold on the beach and compare it to somebody in a rural area,” Vincent said. “That’s not fair, it’s two totally different markets. Same goes for land. We’re not going to take a piece of oceanfront land and compare it to a piece of farmland out in a rural area.”
He added the values come from actual closed sales going back up to two years, not from asking prices. The data is also validated to exclude non-arm’s-length transactions, such as property transfers between family members.
Vincent provided the key dates for residents: the reappraisal officially becomes effective on January 1, 2026, with change of value notices mailed in March 2026. The appeals period will immediately follow and the new property assessments will appear on tax bills issued in the summer of 2026 and due in January 2027.
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