Many folks in Carteret County are shocked after looking at their latest statement from the tax office. That shock stems from skyrocketing property values to the tune of over 139 percent. One home appraiser we talked to said his phone has been ringing off the hook for weeks with homeowners flabbergasted by their recent statement. Some values have gone up by more than 200 percent, especially on or near the water. It's all due to the new tax revaluation in Carteret County. But residents Shouldn't panic just yet, your tax bill may not be reflective or your property value. That's only half of the equation, the other part is the tax rate, which will be established by local government officials in June.