Charlotte Area Homeowners Brace For Higher Property Taxes In 2019

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

Mecklenburg County Announcing New Property Values This Week, Impacting Property Taxes For Charlotte Area Homeowners

 

It's been eight years since Mecklenburg County undertook a property revaluation for tax purposes. North Carolina state law requires a revaluation at least once every eight years. This week, Mecklenburg County  begins mailing thousands of property value notifications to homeowners.

 

Charlotte area homeowners should be prepared for some surprises and for increases in their property taxes, although until each town in Mecklenburg sets its tax rates later this year as they set their budgets, it's still unclear how much property taxes will increase. There is always the chance that some of Mecklenburg's towns will reduce tax rates to keep the impact from increased property values relatively neutral.

 

Mecklenburg County Property Taxes Increasing In 2019According to the county assessor's office, the total median value of Mecklenburg County real estate increased 54% since the last revaluation in 2011 -- a 43% increase in residential property values and an astounding increase of 77% in commercial property values. Commercial property includes apartment buildings, so it's likely renters can start expecting an increase in rent rates at some point soon.

 

With almost 372,000 parcels that have been revalued in the County, it might take some time for property owners to receive their notices. So, if you can't wait to receive your property revaluation notice in the mail, you can find the information on-line, beginning tomorrow, Thursday, January 24th, on the Mecklenburg County Property Information System portal.

 

 

What To Do If You Disagree With Your New Property Valuation

Property Tax AppealYou can take one of two steps:

  1. Request an informal appeal on-line.
  2. File a formal appeal with the Board of Equalization and Review by May 20, 2019.

 

Instructions on how to file either a formal or informal appeal are as follows:

  • After you've received your Notice of 2019 Real Estate Assessed Value, visit the property information portal and enter the parcel number found on your Notice to review your assessment. View sample notice.
  • You can request an informal review of your assessed value within 30 days of receiving your notice.
  • If you wish to skip the informal review, you can file a Formal Appeal request with the Board of Equalization and Review (BER) by May 20, 2019.  

 

For more information about the revaluation process, property tax exemptions, filing appeals, etc. you can go to Mecklenburg County Assessor's Frequently Asked Questions page.

 

Still have questions?   

Contact the County Assessor's office at AssessorQuestions@MeckNC.gov or call 980-314-4226. 

 

 

This Mecklenburg County property tax revaluation update is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts. We've been opening doors for Charlotte region home buyers and sellers for 20 years.

 

If you're considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:

 "The Right Broker Makes All The Difference."

 

Great Homes In Charlotte

 

 

Featured Property Tax Image credited to: Greenbush Finanacial

Increasing Tax Image credited to Scharf Pera & Company, PLLC

 

 

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Nina Hollander

Broker, Realtor, MBA, CRS, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Residential Brokerage
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Rainmaker
2,811,362
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

James Dray hi James... that's so true. Here in Charlotte, we've not had a property revaluation that increased values for 8 years. 4 years ago they rolled back quite a few values. The ones that will be really hurting are commercial property and rental building owners. Of course, that might mean more renters deciding to buy! Then we just need more inventory!

Jan 24, 2019 03:18 AM #8
Rainmaker
890,838
Bob Ratliff
Robert Ratliff Realty - San Antonio, TX
"Sold with Bob"

I wasn't surprised to read Charlotte taxes are increasing cause I'm always hearing people in Texas relocating to your popular city and state. My husband who is a flight attendant and has a crash pad in Charlotte said the merchandise tax is low there? I think 2% but then you have state tax correct. I guess it balances out with our state.

Jan 24, 2019 04:57 AM #9
Rainmaker
3,049,333
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

While our value went up...our taxes went down...Yaaah !

Jan 24, 2019 05:57 AM #10
Rainmaker
4,744,964
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Most homeowners will not like an increase in their property taxes even though they like to have the value of their homes rise.

Jan 24, 2019 06:47 AM #11
Rainmaker
2,811,362
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Bob Ratliff hi Bob... we do have a state income tax in NC. But my clients who've moved here from TX always tell me that they still make out better with our lower property taxes than they did in Texas.

Jan 24, 2019 07:22 AM #12
Rainmaker
2,811,362
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders oh for sure, Gabe. Our property taxable values have always been lower than market values.

Jan 24, 2019 07:23 AM #13
Rainmaker
2,811,362
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sally K. & David L. Hanson hi Sally, that's what we are hoping for here... that the tax rate with go down and leave it revenue neutral, but we won't know for a while.

Jan 24, 2019 07:24 AM #14
Rainmaker
2,154,872
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Property taxes in Hawaii and California do not vary all that much regardless of assessed value. I don't know the exact percentage but it's around 2% a year. Homes are not reassessed until they transfer title in California. In Hawaii, you assume the previous tax base. Well, unless it's a second home, then it's 4 times as much!

Do you think you might get new clients calling you to ask for a CMA so they can fight the property tax increase? I would think some would take the easy way.

Jan 24, 2019 09:49 AM #15
Rainmaker
5,066,648
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is important information to share with home owners and prospective home buyers.

Jan 24, 2019 10:35 AM #16
Rainmaker
2,811,362
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley hi Roy... there will be many homeowners who will get a nasty surprise for their property taxes. Renters will also be paying the price at some point.

Jan 24, 2019 11:01 AM #17
Rainmaker
2,811,362
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents hi Elizabeth.... the last time we revalued I sent appraisers out to quite a few of my clients. The City rolled back $100 million in tax refunds. This time, knowing how they went about the valuation process, I suspect that values will be pretty close to market values. And so many of my clients bought new construction, it won't impact them as much as those tax values are set very close to the purchase price up front. So unless a new community had an amazing growth in sale prices, there won't be a big difference.

Jan 24, 2019 11:04 AM #18
Rainmaker
1,050,171
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander - This is always a concern with property owners. I think it is perfect that you give your Charlotte area property owners instructions to file an appeal. 

Jan 24, 2019 12:03 PM #19
Rainmaker
2,811,362
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sheri Sperry - MCNE® hi Sheri... at the end of the day, property owners don't have control over the revaluation process, only over the process to appeal so it's important information.

Jan 24, 2019 02:25 PM #20
Rainmaker
3,925,609
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, when I have east coast buyers, it is the first thing they look at, are how much are the taxes, and we are much lower in Denver.

Jan 25, 2019 05:44 AM #21
Rainmaker
2,811,362
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox high Joan... for most homeowners are property taxes will still remain relatively low... but there will be some who will be more than a little shocked.

Jan 25, 2019 11:34 AM #22
Ambassador
1,559,130
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Eight years is too long for reassessing taxes. Oklahoma City is once every year.

Jan 26, 2019 11:49 AM #23
Rainmaker
2,811,362
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joe Pryor hi Joe... typically we do it every 4 years. 4 years ago they messed it up so badly they had to refund $100 million in taxes. Going forward I believe they will do it every four years to reduce the shock.

Jan 26, 2019 12:07 PM #24
Rainmaker
2,811,362
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lucille Parham this venue is not the place for your to hawk your wares. You've been reported for removal.

Jan 30, 2019 04:21 AM #26
Rainmaker
1,058,089
Joyce Marsh, Luxury Market Specialist
JOYCE MARSH REAL ESTATE COMPANY - Daytona Beach, FL
Million Dollar Guild, CLHMS, CNE, SRES

I’m sure some residents will be in for a shock when they receive their new bills even though they are expecting an increase. In Florida if you homestead you won’t see an increase over 3%. Good idea to put instructions in your post on how to file an appeal 

Feb 01, 2019 12:11 PM #27
Rainmaker
2,811,362
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joyce Marsh, Daytona Ormond Beach Florida hi Joyce... my valuation was not a surprise and actually came in less than a recent appraisal. But there will be a lot of appeals filed, I believe.

Feb 02, 2019 05:31 AM #28
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