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Property taxes serve as the largest own-source revenue source for local governments in the United States. Unlike property values, which fluctuate with the economy, assessed values—the foundation of property taxes—are not routinely updated and reassessments often occur infrequently. The timing of these reassessments holds significant implications, particularly during economic fluctuations. For instance, reassessing during periods of depressed property values can result in reduced revenues, necessitating rate hikes or service cutbacks. Therefore, counties may strategically time reassessments to mitigate adverse financial effects. This study investigates whether property reassessment delays served as strategic financial management tools in North Carolina counties from 2000 to 2019. The findings indicate that counties did employ reassessment timing strategically, particularly in the periods immediately following recessions. Moreover, counties that delayed reassessments exhibited marginally higher property valuation compared to those that did not delay.
