North Carolina law requires that assessment be based on 100% of market value. However, values only change in a reassessment year, or if improvements have been made to the property, or if you appeal your value during the month of January. Counties are required to reassess at least every 8 years, but they have the option to reassess every 4 years. Therefore, the tax value you have found may be current or it may be a value that was placed on the property as much as 8 years ago. Basically, county assessments mean nothing to anyone other than the tax collector and the person paying the bill. If your assessment is low, your taxes will be less. If you want to know the true value of a property, you should get an appraisal, which a lender will require if you intend to finance the home. Appraisers are required to use current (within the last three months) comparable sales. If you don't want to spend the money for an appraisal, you should be able to find a local realtor who would do a CMA for you. I would be glad to do it for you if I lived in your area. The other thing you might want to do is, call the county tax assessors office and ask when the last assessments were done, and when the next one will be done. I hope this helps. Call or email me if I can be of further help.