CHARLOTTE, N.C. — A startling statistic from Thursday is settling in for many homeowners. The Charlotte City Council was told, even if the city set the tax rate at revenue neutral, 92% of Charlotte homeowners would see a tax increase.
This is on the back of home revaluations in Mecklenburg County.
On Sarah Drive, just off of South Tryon Street, some homeowners saw an over 200% jump in how much their home is worth from the revaluation process, which could affect how much they pay in taxes.
If you ask Alison Barton, she'll give you a list of why she loves her home off of Sarah Drive.
"It’s nice it’s quiet, it’s convenient," Barton said.
She'll give you a longer list of what she misses.
“Well I liked it when I had woods behind me," Barton said.
The plethora of trees cleared out for new houses and developments. Her neighborhood on South Tryon Street isn't checking the same boxes for her.
"I like this area because it’s been affordable," Barton said.
For her, those absent checkmarks have been replaced with dollar signs.
Mecklenburg County recently released the new home revaluations. In this area, neighbors said their tax values were up at least 220% from the last revaluation four years ago in 2019.
Thursday, city leaders lobbed pointed concerns about how these revaluations would impact people.
“We saw the increase because we saw the investments, investors coming in and buying homes at low prices and flipping them," Council member Lawana Mayfield said.
Just because revaluations go up, it doesn't mean taxes will automatically.
If you disagree with your home revaluation, you can file an appeal. The county said you have 30 days from the date listed on your revaluation notification to request an informal review.
Contact Austin Walker at awalker@wcnc.com and follow him on Facebook, Twitter, and Instagram.