Mecklenburg County NC Property Reassessment 2023
Your Property Taxes are Probably Going Up! Sorry to be the bearer of bad news.
If you live in Mecklenburg County, you're going to see a property tax increase in 2023. Well, more like 85% of you will.
Here's the story, the state of North Carolina requires that all counties reassess property values every 8 years. Mecklenburg and many of the surrounding counties have gone to a 4-year cycle. It just helps avoid the dramatic swings in property values that could occur over 8 years. It smooths it out.
The Mecklenburg County Tax office presented to the County Commission last week their findings. Here are some takeaways:
- The areas north and west of the uptown areas are probably going to see the highest percentage increase in values. Why? Gentrification of the older neighborhoods. Get in your car and drive around. It’s tear downs and rebuilds plus major renovations.
- Based on where you live, the median priced home will see a increase in taxes ranging from $177 to $178. If your home value is more than the median, then expect that number to be a little higher.
My opinion is that like many other things you can partly blame Covid. Commercial property values have not increased at the same rate as residential. Therefore, residential is carrying more of the tax burden.
- In March, the county will make the new values public and you’ll get a notification in the mail.
- In the summer, the county and the municipalities will announce the new rate at which they will tax your valuation.
Now, don’t freak out when you get the notice. Meaning, don’t make the mistake of taking the new value and multiplying that by the old rate. The county and municipalities will adjust the rate to what should be zero neutral versus the previous year.
Lastly, we have heard several presentations from Mecklenburg County Tax officials and believe this should be pretty accurate based on the metrics and methods they are using. Now, if you question the value, on the notice there will be directions on how to access their system and how you can file an appeal.
If you need assistance for us at the Huss Home Group, don’t hesitate to contact us.
David Huss - Huss Home Group at Allen Tate Realtors