The county of Mecklenburg, North Carolina is undergoing a revaluation in 2023. The assessments were released on March 17 and reflect a significant increase in values:
Countywide: 51% average increaseCommercial: 41% average increase
Residential: 58% average increase
The values determined during the 2023 revaluation will remain in place until the next reassessment in 2027. To minimize your property tax expense, it is critical that all assessments are reviewed the first year of the four-year cycle. The deadline to file a formal appeal for all parcels is June 9, 2023. Although, the 2023 millage rate will not officially be set until the summer, Ryan has analyzed all current available data and historic trends to approximate likely rollback scenarios.
Representing more than $32 billion in assessed value throughout Mecklenburg County, Ryan’s Property Tax team has extensive experience in navigating the property tax process in Charlotte and across North Carolina, including all commercial property types and classes. If you are interested in understanding more about this revaluation and the potential impact to your property, please contact us for additional details. Our experts look forward to helping you minimize your property tax liability. For more information and to get in contact with our tax experts, please click here.
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.