MECKLENBURG COUNTY, N.C. — Mecklenburg County revaluation is right around the corner.
Revaluation is when the county tells home and business owners how much it considers their property to be worth. Residents pay property taxes based on the assessed value and their municipality’s tax rate.
Mecklenburg County will be sending out new assessed property values in early March. The county was originally expecting to send the values in January, and said the additional time allows for recent transactions and market trends to be factored in.
“Knowing where the market’s going, which is down, he’s able to take in every value up until the end of the year and be able to make adjustments,” he said. “So that’s just good, responsive government.”
Tax Attorney Larry Shaheen says the delay is a smart decision by the tax assessor.
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Shaheen says home and business owners should make sure the county has the right information about their properties. When values eventually go out, if they look too high, Shaheen says to consider appealing or consulting with an attorney.
“I always tell people is a good rule of thumb is, if you are comfortable selling the house at that value, you can probably leave it alone,” he said.
Mecklenburg County resident Shan Foote hopes to buy a property soon but says it hasn’t been easy. She says she’s keeping an eye on the revaluation process
“We have to find a place in the next few months so it is very important to us,” she said.
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Mecklenburg county’s tax assessor will be briefing Charlotte City Council on this new revaluation timeline at Monday’s meeting.
Statement from Mecklenburg County:
“During preparation for Mecklenburg County’s 2023 revaluation process, the Assessor’s Office had established January 30, 2023 as the date to send notifications of value to all real property owners. Based on recent activity in the local real estate market, Mecklenburg County will extend that date by approximately six weeks to early March, with the exact date for the notifications to be determined.
“The Assessor’s Office recognizes the importance of accurate valuations as close to January 1, 2023 as possible. The revaluation team will use the additional time to evaluate and adjust the assessed valuations based on internal market data and analysis, as well as additional information provided by external partners. The additional time allows for the most recent transactions and market trends to be reviewed and captured as part of the process. By rescheduling the date of the mailings, the revaluation team will have the opportunity to consider all valid data prior to the mailing of the notices, allowing for the greatest opportunity to ensure accuracy, fairness, and equity.
“This change will also adjust the dates for the informal and formal appeal processes for property owners, which will be communicated to owners in the notification.”
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