New Year Bringing New Property Values In Mecklenburg County
Most Mecklenburg County property owners can expect to see a large increase in their assessed property values in 2019. The county Assessor’s Office is updating local property values for the first time in eight years. Notices of new property values will be mailed by late January.
The Assessor says residential property values in Mecklenburg County are increasing by an average of about 40 percent. Commercial property values are expected to jump by a whopping 78 percent, on average.
The state requires that local governments conduct a property revaluation at least every eight years. But Mecklenburg Tax Assessor Ken Joyner says, he’d like to see a shorter interval.
“My recommendation to the board of commissioners will be that we shorten the cycle and do another revaluation in 2023 so that we don’t have these large eight-year fluctuations,” Joyner said. The goal of a shorter interval, Joyner added, would be to make property value increases “more manageable” for residents and business owners.
While Mecklenburg County property values will soar under the current revaluation, the actual amount of the next property tax bills won’t be known for several months. That will depend on tax rates that county commissioners and local municipalities will set by July.
Property owners can ask the Assessor’s Office to review newly-calculated values. And, the county’s Board of Equalization and Review will meet to hear formal appeals beginning April 8.
One other note for Mecklenburg County property owners: 2018 taxes must be paid by January 7 in order to avoid interest charges.