Mecklenburg County Property Revaluation Notices Begin Arriving Thursday
CHARLOTTE, N.C. – You could be in for sticker shock if you own a home or business in Mecklenburg County. Revaluation notices will arrive in your mailbox as soon as Thursday.
The average homeowner can expect their property value to go up 43 percent. The average business will see a whopping 77 percent increase.
“It has been eight years. And so, there’s not a property in Mecklenburg County that’s gone down in value since that time,” explains Jonathan Osman, with Jonathan & Associates Real Estate.
Wednesday, Mecklenburg County tax assessor Ken Joyner said Uptown, SouthPark, and Ballantyne are expected to see the biggest increases in Mecklenburg County.
“We’ve seen a lot of sales activity there,” Joyner said.
Osman says neighborhoods seeing rapid gentrification could also see a big jump.
“Neighborhoods that have seen substantial changes and let’s say new construction, a lot of new construction has happened,” Osman says.
That could lead to issues for long-time residents who could see their land value go up, even if their homes aren’t worth that much more.
“Those neighborhoods where you go into and you see the original houses next to you know a house that is over a million dollars,” Osman explains.
We don’t know the impact on property taxes until city and county leaders set rates in July.
While tax rates are expected to go down in order to stay revenue-neutral, people seeing the biggest jumps in property value could be hurt the most.
“The neighborhood that went up 100%, they’re still going to see a substantial tax increase,” Osman says.
If you disagree with your revaluation, you can file an informal review within 30 days. If you want to request an appeal, you have until May 20th.
“We will offer a change in value if we feel like that there is valid information there,” Joyner says.