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Pursuant to G. S. 105-286, all counties in North Carolina are required to conduct a reappraisal every eight (8) years. The majority of the counties, including Currituck County, conduct their reappraisals on this time frame, although a growing segment of counties conducts reappraisals on a shorter cycle.

Currituck County has revalued its' property every eight (8) years starting in 1965, the year of its' first revaluation/appraisal after the octennial schedule was imposed in 1959. The next scheduled reappraisal will be affective for the 2021 tax year.

During years that a general reappraisal is not conducted, G. S. 105-286 dictates that the real property shall be assessed at the value assigned during the last reappraisal. The assessor is limited by G. S. 105-287 to certain circumstances in which he may change the value of real property. These include correcting a clerical or mathematical error, or correcting an appraisal which resulted from a misapplication of the schedules used during the county's last general reappraisal.

The assessor is also permitted to increase the assessed value of real estate when a structure is built or improved, or to reduce the value if a structure burns or is destroyed. The value can also be revised when property had been taxed as having a certain number of acres and the actual acreage is determined to be different. When this occurs, the change is made for the upcoming year and is not retroactive.

The assessor may not increase or decrease the appraised value of real property, to recognize a change in value caused by: normal physical depreciation of the improvements; economic conditions affecting the county as a whole; or minor improvements to the property such as repainting, landscaping, terracing, etc. The county may not change the assessed value to reflect a general increases (or deceases) in property values until the next reassessment.

A county may choose to conduct its reappraisal "in-house" utilizing their own appraisal staff, by hiring an outside reappraisal firm, by employing consultants to assist their staff appraisers or a combination of the above. During the 2013 revaluation the county staff appraised the 4WD Fruitville Beach area of the county and the reappraisal firm Tyler Technologies appraised the remainder of the County.