November 27th, 2018
Mecklenburg County 2019 Tax Revaluation
Property owners in Mecklenburg County could expect to see a potential rise in property taxes next year as the county prepares for its first full revaluation since 2011.
According to the Mecklenburg County Tax Assessor’s Office, revaluation is a process in which all property within a taxing jurisdiction is reassessed to its current market value as of an established date. These revaluations must occur at least once every eight years.
Tax revaluations consider several points of data including property history, tax records, sales information, cost analysis, income and expense information, and market trends. The main goal of a revaluation is to demonstrate the value of the property in current conditions if it were put up for sale on the specified date of the revaluation.
The Charlotte Observer states that the new revaluation will reflect Charlotte’s hot real estate market conditions. The total value of real estate in Mecklenburg County is up 51 percent so far, Mecklenburg County Assessor Ken Joyner told the Observer. Currently, about 35 percent of the county’s property tax base is commercial and 65 percent is residential real estate.
The county is expected to notify homeowners of new home values in mid-January. After being notified, homeowners will have the opportunity to appeal the assessed value. Filing appeals can take place online, by mail, telephone, or in person within 30 days of the Notice Date indicated on the revaluation notice.
County officials are warning residents that this doesn’t necessarily mean property taxes will increase for everyone. If you are interested in finding out more about the tax revaluation and specifically what it could mean for your home, talk to a licensed real estate agent. Helen Adams Realty’s team of real estate professionals can advise homeowners on what to expect, how to prepare for higher property taxes, and their personal real estate needs.
If you are interested in working with one of our agents, give Jordan Nelson a call. As Referral Services Manager, she plays matchmaker between potential clients and agents. After talking to you about your specific situation and real estate needs, she will connect you with the best fitting agent at our firm.