Charlotte landlord says county’s property tax formula is hurting low-income renters

Charlotte landlord says county?s property tax formula is hurting low-income renters

CHARLOTTE, N.C. — When Mecklenburg County mailed updated property value notices last year, landlord Rick Stikeleather said he was shocked at the hike in assessments.

“My tax bills have gone up thousands of dollars,” he said.

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The county started a new method in 2019, valuing land based on the best use of the property not for what the property is used for.

For example, Stikeleather said he owns a duplex that’s zoned as a commercial property.

In turn, the county assessed another 20% tax on top of what he already owed because the building isn’t used what it’s zoned for.

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“If you don’t convert it, you’re still going to pay the taxes on the land like you did the conversion,” Stikeleather said.

Stikeleather said he’s appealed almost every tax assessment on his nearly 100 rental and investment properties with little luck.

So he has sold off multifamily properties because he can’t keep up with the rising taxes.

He said those have been knocked down to build more expensive, single-family homes leaving families displaced.

>> Watch the video at the top of this page for what he wants leaders to do to help address the issue.

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