Last week property valuations for 2008 made headline news in the Raleigh and surrounding areas. On average, property values went up 43% in Wake county! In some areas, such as inside the beltline (ITB), property owners saw increases as high as 73%. Owners need not worry about these numbers alone as they only give the market value assessed by the county assessors office. Sometime next year we will find out the new tax rate. Based on these two numbers you will be able to find out if your property taxes increased or decreased. Realistically speaking, if the tax rate goes up or down we will still probably be paying a little more in taxes due to the new revaluations. For more information on revaluations visit the county website in your area. For Wake county you can visit www.wakegov.com.