Navigating Changing Property Values

February 04, 2025

With the recent announcement that Johnston County property taxes would increase in 2025, home buyers and sellers are navigating new waters. This increase was the result of the first reevaluation of property values in Johnston County since 2019. While those adjusted taxes will not be mailed until August, the Rodney Carroll Team encourages residents to educate themselves now to alleviate the stress that can come with such an increase.

Property Taxes change upon the completion of property reevaluations performed to ensure that all properties are assessed fairly and reflect current market conditions. This assessment is based on tax office estimations of each property’s market value. For residents of Johnston County, 2025’s increase will take effect in June and invoices will be mailed in August. A seasoned realtor, such as those that make up the Rodney Carroll Team, understands how an increase in property taxes affects the local real estate market.

Rising Property Values: What It Means for Buyers:

Increased Competition: As property values rise, more buyers enter the market, leading to bidding wars and quicker sales. This means that buyers will need to act fast and ensure they are pre-approved for financing before searching for a new property.
Higher Costs: As prices increase, buyers may need to adjust their budgets, consider smaller homes, or seek less competitive neighborhoods.
Long-Term Investment: Real estate investors often purchase property during a rise in value. This can be a great long-term investment, as property values are likely to continue to grow.
Negotiation Challenges: Rising property values create a seller’s market, which may mean less wiggle room for buyers when negotiating prices or contingencies.

Timing is Everything! If you are considering buying a property in 2025, now is the time to weigh the benefits of buying now versus waiting. The Rodney Carroll Team is here to help our clients navigate that decision and ensure homebuying dreams come true.

Rising Property Values: What It Means for Sellers:

Maximized Profits: Rising property values create a seller's market. Homes can be listed at higher prices, increasing that return on investment.
Shortened Sales Cycle: With increased demand, homes typically sell faster, reducing the hassle of a prolonged selling process.
Multi-tasking in the Market: For sellers, a quick sale is wonderful, but it also means having plans in place for their next move. Sellers should plan ahead in finding their future property and be aware that it, too, may have seen an increase in pricing.

As property prices are set to rise, sellers should weigh the benefits of selling now versus waiting for those higher values to arrive. The Rodney Carroll Team can help narrow down the benefits of both options to help sellers maximize their profits.

Appeal Options for Property Owners: When those property taxes arrive, property owners do have options for appeal:

Property owners can appeal their new property values online at JohnstonNC.
Property owners can call the Tax Department at (919) 989-5130 to speak with an appraiser or schedule a face-to-face appeal.
Property owners may be eligible for property tax relief programs, such as the Elderly or Disabled Exclusion, Disabled Veteran Exclusion, and Circuit Breaker Tax Deferment.

Residents of Johnston County have been fortunate to enjoy stable property taxes for several years. Realistically, this is not the norm as many counties reevaluate property taxes annually. The key for both buyers and sellers is not to panic when values are adjusted in either direction. Partnering with a seasoned real estate team is key when navigating a dynamic market. The Rodney Carroll Team offers our clients confidence in a shifting market by offering education, resources, and years of local experience.

Reach out to the Rodney Carroll Team today to prepare for your property’s future!