revaluation Notices of Value are being mailed Feb. 8 to nearly 300,000
County property owners.
The notices reflect the new value of these residential properties
based on a thorough review of home sales as of January 1, 2011. The
notices will have a date of Feb. 8, 2011, and the last day to appeal
at the informal level is March 10, 2011. This mailing contains 297,584
parcels totaling $58.9 billion in value (263,704 improved properties
and 33,880 vacant parcels).
The State of North Carolina requires counties to revalue property at
least every eight years. The last time property was reassessed in
Mecklenburg County was in 2003. The estimated increase in the
countywide property tax base is 6% to 8% after all the appeals have
occurred. Whether a property's value goes up or down depends on a
variety of factors, and many neighborhoods hit hard by foreclosures
and slow sales may see their values drop.
Revaluation is the process of equalizing the tax value and the market
value of residential and commercial properties. The Revaluation Team
has several online tools available to residents who may have questions
about how the assessor arrived at their new value:
· Website – http://reval.charmeck.org
· Frequently asked Questions with answers at the website
· Series of short videos explaining different aspects of
revaluation
· Real Estate Look-up updated with new values by Wednesday,
Feb. 9, 2011
· Dial CharMeck 311 within Mecklenburg County for additional
assistance
Residents who wish to start the appeal process should follow the
directions on their Notice of Value. This tear-off form should be
completed and mailed to the Assessor's Office. The Revaluation Team
has used all the latest techniques and technology available to
calculate home values, so residents will need a valid reason to appeal
the revaluation.
The actual property tax bill you will pay will be determined by the
tax rate adopted by the Board of County Commissioners in June.
Property Tax bills with the new value and new rate will go out in
September.
