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10 <br /> Revaluation Process <br /> Properties are appraised at 100% market value at the time of the revaluation. Data is reviewed from the <br /> most recent qualified sales leading up to the revaluation date. <br /> The Schedule of Values is a manual to describe and document the methodology and procedures for <br /> appraising real estate at market value at the time of the county's most recent revaluation. <br /> In order to reappraise all parcels at the same time as of the same date, mass appraisal is used. It is the <br /> process of grouping uniform or similar properties together to ensure fair and equitable property values, <br /> and is used by all North Carolina counties to conduct a reappraisal. <br /> Real property values remain the same until the next reappraisal, unless physical changes are made to the <br /> property during non-reappraisal years. <br /> New buildings and other improvements are appraised according to the percentage of completion on <br /> January I of each year and are valued according to the Schedule of Values to reflect the value as of the <br /> most recent revaluation date. <br /> = / f <br />