Wake County Tax Administration is excited to announce the launch of a new Real Estate Comparables Tool designed to simplify your property research. This innovative tool allows you to easily search for sales comparable to your home or property, directly enhancing your understanding of local property values.
This enhanced real estate comparables tool builds upon the functionality of the existing Research Sales tool found on the Wake County Tax Portal. However, it offers a significant upgrade by enabling users to visualize comparable home sales directly on a map within their own neighborhood. These sales have been meticulously reviewed by appraisers and are deemed reliable indicators of market value as of January 1, 2024. This data is precisely what was utilized to determine property values in each neighborhood during the most recent revaluation process.
Key Features of the Real Estate Comparables Tool
The real estate comparables tool is packed with features to provide you with comprehensive property insights. It includes critical information points such as:
- Proximity: Distance from your subject property to comparable sales.
- Sales Timeline: Properties sold within a defined period (01/01/2022 – 12/31/2023).
- Jurisdiction: Planning jurisdiction details.
- Neighborhood Context: Neighborhood information.
- Size Metrics: Heated area square footage for accurate comparisons.
- Construction Age: Year built of the property.
- Effective Age: Effective year built, reflecting renovations or updates.
- Structure Height: Story height of the buildings.
- Property Type: Building type and use classifications.
- Land Size: Acreage of the property.
Generate Custom Real Estate Sales Comparison Reports
A standout feature of this real estate comparables tool is its ability to empower users to personalize their analysis. You can handpick the sales you consider most relevant to your property and effortlessly generate a detailed report. This report clearly outlines the similarities and differences between properties. Available for download in PDF format, these reports are invaluable resources. Whether you are considering submitting documentation for an informal review to the Tax Administration office or preparing a formal appeal to the Board of Equalization and Review, these reports can provide crucial supporting evidence.
It’s important to note that the current real estate comparables tool focuses exclusively on residential property data. Information pertaining to commercial properties is not included in this version.
Understanding Property Record Information and Codes
The residential sales data presented in this real estate comparables tool is sourced from Wake County’s Computer Assisted Mass Appraisal (CAMA) system. This comprehensive system utilizes a range of codes and abbreviations to efficiently capture and describe intricate property details. To ensure transparency and user-friendliness, the real estate comparables tool incorporates many of these standardized codes and abbreviations.
To help you navigate and interpret the property record card information effectively, Wake County provides helpful resources.
Decoding Property Codes and Abbreviations
The real estate comparables tool utilizes codes and abbreviations across various property characteristics, including:
- Additions to the property
- Land class designations
- Land unit types
- Planning jurisdiction specifics
- Attic features
- Air-Conditioning (A/C) systems
- Heating systems
- Story Height classifications
- Exterior Finish materials
- Basement details
- Basement Finish types
- Zoning regulations
For a comprehensive guide to understanding these codes, please refer to the Guide to Frequently Used Codes in Property Record Information. This document serves as your key to unlocking the detailed information within the real estate comparables tool.
Interpreting Story Height and Attic Finish Codes
For detailed insights into how heated area is categorized across different stories of a home, and to understand the abbreviations used on property sketches within the real estate comparables tool, consult the Story Height Factors and Upper Floor (Attic) Finish document. This resource also provides practical examples of calculating heated area using the Story Height and Upper Floor (Attic) Finish codes, further enhancing your ability to utilize the real estate comparables tool effectively.
Important Disclaimers Regarding Property Data
It is essential to understand that the property records accessible through the real estate comparables tool reflect data as it currently exists within the Wake County CAMA system. While this data is provided as a valuable service to Wake County citizens, it is subject to updates and changes as new public records are submitted and processed.
The information presented within the real estate comparables tool is provided “as is” and should not be considered a replacement for official information obtained directly from other government departments or agencies. Wake County explicitly disclaims any representations or warranties, whether express or implied, regarding the accuracy, completeness, reliability, or suitability of the data provided. Furthermore, Wake County assumes no liability for any consequences arising from the use or misuse of this data.
Your use of the real estate comparables tool and its data is governed by Wake County’s Disclaimers and Public Records Information policies. We encourage you to review these documents for a complete understanding of the terms of service.
