Charlotte NC Tax Assessment Q & A
A: Don’t worry, you will! If you want to check to see the status of your assessment, call the Char-Meck number 311 for help. If you a Charlotte NC condo or townhome owner, the assessments are being completed in March, 2011. You may also check your property value on the public (county) website and view your assessment notice there as well.
Q: When do I need to decide if I’d like to challenge my assessment?
A: Right NOW! The deadline is March 10, 2011 but, if you’re going to have an appraisal, you will need to give your appraiser sufficient time to complete the appraisal for you.
Q: How do I go about challenging my assessment?
A: The deadline appears on the revaluation notice, with the portion below the perforation provided you for your appeal. If you need further explanations, including video instructions, visit the Mecklenburg County web site which is complete with links and explanations as well.
Q: Why do I need an appraisal? Won’t the Zillow statistics or tax records be sufficient comparables?
A: Zillow and the tax records do not take into consideration, condition or oftentimes, upgrades or the need for upgrades. Their database is not pulled objectively by a human who actually lays eyes on the property or knows the area. Should you use those methods of providing comparables, it is likely that the tax assessors office will even disagree with your comparables obtained from online sites.
Q: If I purchased my home last year, can I supply the appraisal that was done then?
A: Unfortunately, that won’t work. The county is accepting appraisals with an effective date of January 1, 2011 or AFTER, only.
Q: What are taxes that are escrowed?
A: In most mortgages, you pay 1/12th of your estimated yearly property tax each month (your annual assessment X the tax rate, divided by 12 months). This is built into your payments when you obtain your mortgage if you decide to ‘escrow’ them as opposed to paying the taxes once a year, when due. If you do challenge your assessment and your the county agrees with your appeal, your property taxes are lowered, thus your monthly payment is lowered (or your annual one-time payment is reduced).
Q: Is it really worth the trouble?
A: You’re darn skippy it’s worth it! Because Charlotte tax assessments occur every 8 years, the reduction in your annual tax payment over the eight years can save you thousands of dollars.
Please feel free to contact any member of The Maxwell House Group if you have further questions or need additional information. If you’d like to know what the values are in your neighborhood to compare your new assessment, request via email.