Union County Property Taxes: Last Step in the Revaluation Process

Union County Property Owners, your 2008 property tax bill is in the mail!  You've reached the end of the long process of property revaluation and tax rate setting that began in the first quarter of this year.  Here's a recap of the process:

• Union County tax officials spent much of 2007 determining new assessed values of every property in the county.
• In early 2008, each property owner received a notice of the 2008 assessment and was given a period of time to petition for a different value.
• By mid-year, tax officials had worked through the petition process and finalized each property's new value.
• Each local government, armed with the total valuation of all properties within their boundaries, established budgets for next year and established new tax rates for 2008.  This process was finished by the end of June
• Union County tax officials used the new tax rate and the new assessed value to generate a 2008 tax bill.

What was the outcome for most Union County property owners? 

• New assessed values are higher ranging from a 13% increase in Monroe to 36% in Marvin.
• The county and the towns lowered their tax rates somewhat to accommodate the increase in assessed values but did not make the new rates "revenue-neutral".
• Most Union County taxpayers will pay higher taxes in 2008.

Property taxes must be paid by January 5, 2009.  The county tax bills will be sent directly to property owners if they pay their taxes or to their mortgage companies if taxes are paid from an escrow account.  The county tax office doesn't collect town taxes except for Wingate, Wesley Chapel, and Hemby Bridge.  Those of you who live in a town should expect a second bill from the town.

Visit www.CarolinaSmallTownLiving.com for more information about Union County and its small towns.

Copyright 2008.  Carol Fox.  All rights reserved.  "Union County Property Taxes:  Last Step in the Revaluation Process".

About the author:  Carol Fox of Allen Tate Realtors is a veteran real estate agent who specializes in South Charlotte and Union County.  Carol will be one of the Union County property owners paying a higher tax bill this year.