On November 8, 2022, the Mecklenburg County Assessor, Ken Joyner, announced that 2023 reassessment notices will no longer be released in January 2023. Given the uncertainty in the market and the rise in interest rates, the county is pushing out the mailing to capture all recorded sales between now and December. Regardless, taxpayers should still expect significant value increases, with Joyner indicating that residential property values have increased an average of 57%, while commercial property values are up an average of 39%. Notices are now expected to be mailed sometime in March, with the appeal deadline currently set for May 25, 2023.
The local experts at Ryan will continue to monitor this process and assist clients with strategies for tax minimization. Learn more about our team, and please reach out if you have any questions.
TECHNICAL INFORMATION CONTACT:
Suzanne Markley
Principal
Ryan
404.942.6393
suzanne.markley@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.