revaluation have been announced, and a meeting postponed by icy
weather has been rescheduled.
Revaluation is the process of reappraisal of all properties within the
County for tax assessment purposes, and is required once at least
every eight years by North Carolina law. The last reappraisal in
Mecklenburg County was in 2003.
Over time, the real estate market changes, and market prices deviate
from the assessed values estimated during the previous reappraisal. A
revaluation does two important things:
1) Brings assessed value estimates back to current market price
levels, and
2) Clears up inequities that occur because of relative changes
between different neighborhoods. For example, some neighborhoods
appreciate faster than others; and some even depreciate. The
reappraisal helps to equalize the tax burden by ensuring that values
are fair.
The actual tax on a property – and how it changes from year to year –
is the decision of elected officials when they adopt a budget and set
tax rates in June of each year. These officials comprise the Board of
County Commissioners, and the council members of the respective
municipality in which a property may be located.
The newest scheduled meeting dates include:
· District 1 (rescheduled from Jan. 10 because of bad
weather): Jan. 18, 2011, 6:30 p.m. at Cornelius Town Hall, 21445
Catawba Ave, Cornelius, NC 28031
· District 2: Jan. 20, 2011, 6:30 p.m. at Winget Park
Elementary, 12235 Winget Park Rd., Charlotte, NC 28278
· Ballantyne area: Jan. 27, 2011, 7 p.m. at Ballantyne Hotel &
Lodge (Fairway Ballroom), 10000 Ballantyne Commons Parkway, Charlotte,
NC 28277
Representatives from the Mecklenburg County Assessor's Office will
make a presentation on the revaluation process and how it works, and
will be available for questions. More meetings will be announced as
they are scheduled. For a comprehensive revaluation overview, visit
the Assessor's Office Revaluation website.
