What's Your Home's Worth? City and County Host Revaluation Workshop
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Mecklenburg County is in the midst of conducting its regular revaluation of all properties for tax purposes. New values are to be announced and notices mailed to property owners in January 2023. But residents have an opportunity to learn more and ask questions now.
The Mecklenburg County Assessor's Office and the City of Charlotte's Housing and Neighborhood Services will co-host a virtual workshop on Thursday, July 21, 2022, 6 p.m. – 7 p.m.
Residents can join the free workshop via Zoom and are encouraged to register their information here before joining.
The workshop will feature a presentation on the property revaluation process, potential effects on taxes and how owners can appeal their 2023 assessed value. Participants will have an opportunity to share their concerns and ask questions.
WHAT: Charlotte-Mecklenburg is among the strongest housing markets in the nation, with property values changing dramatically in recent years to reflect that popularity. Revaluation is the process where Mecklenburg County revalues all property (land and buildings) to its current market value as of an established date, in this case Jan. 1, 2023.
WHY: Property taxes are based on the market value of the property. Without periodic revaluation, some property owners would pay more than their share of property tax while others would pay less than their share. Revaluation resets property tax values so all taxpayers pay their fair share. North Carolina law requires all counties to conduct a property revaluation at least every eight years. Mecklenburg County currently conducts revaluation every four years.
HOW: The Assessor's Office monitors market data to accurately determine the market value of all properties. Staff visit and observe all properties to verify characteristics, compare similar property sales and consider improvements or changes. The Assessor's Office has already completed an initial review of more than 90% of all parcels in Mecklenburg County.
WHEN: Property owners will be notified of their new assessed value in late January 2023 and will have an opportunity to appeal in the following months. In late spring, the Mecklenburg Board of County Commissioners and the municipal boards will determine their tax rates. Depending on the tax rates, a property owner's tax bill may go up, may go down, or remain the same.
LEARN MORE: Visit reval.MeckNC.gov.