The tax rate applied to the assessed valuation derives the tax levy. The total county-wide estimated market values for real and personal property as of January 1 makes up the assessed valuation.
Real property consists of land, buildings, improvements, and permanent fixtures on such property.
Personal property consists of any property not permanently anchored to real property, i.e. motor vehicle, boat. Durham County revalues assessed property every 8 years. We are scheduled for our next reevaluation in 2001.