CHARLOTTE — Homeowners in Mecklenburg County could soon learn the new values of their homes. The county is wrapping up its revaluation process and says property values could likely increase.
Over Zoom, Mecklenburg County Tax Assessor Ken Joyner told Channel 9 government reporter Joe Bruno that the county has finished the initial review of the county’s more than 3,000 neighborhoods.
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“Across the county right now, we’re looking at increases on all areas,” Joyner said.
The initial review found an increase of 48% in the median value of residential real estate. However, rising home values don’t always mean rising tax bills.
Local governments are required by law to publish a revenue-neutral rate, which means the rate that brings in the same amount of cash as the previous year’s budget. Homeowners’ property tax bills may go up, stay the same or be lower depending on what elected leaders decide.
“It really puts the onus on our customers to be aware of what’s going on in the process and the governing bodies to really give them the opportunity to hear their constituents,” Joyner said.
One area of Mecklenburg County that has seen rapid change since the last revaluation in 2019 is Seversville. Amar Johnson says he and his neighbors are expecting to see a rise in property values.
“They do expect some values to increase because of our desired location,” Johnson said.
He’s just hoping taxes don’t rise as well.
“Basically don’t break the bank,” he said.
Mecklenburg County will unveil the results of the assessment in January. Homeowners will be able to appeal if they feel their property’s value is incorrect.
For more information on this process, click here.
(WATCH BELOW: Gaston County approves 2.5% property tax rate cut in new budget)
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