Did you know Mecklenburg County property owners are currently being refunded (and in some cases, billed) for incorrect property valuations from all the way back in 2011?
About 85% of homeowners won’t notice any changes at all, but so far over $16 million has been refunded. On the flip side, some current property owners are being charged back taxes based on incorrect assessments from 2011.
From our friends at Movement Mortgage:
“Mecklenburg County is in the process of reappraising all properties within the county for tax assessment purposes. The process has two objectives: value properties at current market prices, and equitably distribute the cost of local government among the property owners. If residents own a home undervalued during Mecklenburg County’s revaluation mistake in 2011, they will need to get ready to pay up. This means the person who owns the property now has to pay the back taxes according to a state law if there is no agreement in place. In case of a refund, it will go to the new owner.
Mecklenburg county appraisers have been reassessing property values after mistakes were found in a review in 2011 and so far they have found over 100,000 cases of overpayments and the county is getting ready to issue refunds. They are also sending tax bills to thousands of homeowners for back taxes from 2011, 2012 and 2013.”
What does all this mean for you?
Well, nothing yet if you haven’t received word from the county. But be prepared for a letter regarding your current and past property tax payments and also know your appellate rights in the case you disagree with your assessment.
It’s important to note that ONLY the Mecklenburg County Tax Office will have specific answers about your property and your rights!
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