Revaluation Notices Mailed Now; Appeal Deadline: March 10

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Mecklenburg County Assessor Garrett Alexander has announced that 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.

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