Mecklenburg Commissioners Consider More Frequent Property Revaluations
Mecklenburg County Commissioners will consider conducting the next revaluation of residents’ property four years sooner than past re-appraisals at Tuesday’s meeting. They had been occurring every eight years, with the last one in January 2019, but a new resolution calls for them to take place in 2023.
State law requires a revaluation at least every eight years, and that's been the norm in Mecklenburg County. This year's revaluation raised assessed values an average of 40% for residential real estate, and 78% for commercial properties. County Manager Dena Diorio says the shorter time frame will help property owners better manage.
"What that does is it takes out the peaks and valleys in values. The more frequently you do an assessment, the less volatility and that's the goal and going to a four year cycle will help us get there. When you go eight years in a strong economy you see those increases in value and we're trying to level that off," Diorio said.