CHARLOTTE, N.C. (QUEEN CITY NEWS) — Property revaluations will occur in Mecklenburg County every four years moving forward, following a unanimous vote Tuesday night.
The 2023 revaluation came on a four-year cycle but resulted from a one-off resolution approved in October 2019. It was previously on an eight-year cycle, which is the state minimum.
The Board of County Commissioners would have to vote to change the cycle in the future.
“This codifies what we thought we were doing the last time,” said Mecklenburg Board Chair George Dunlap.
Commissioner Mark Jerrell asked County Assessor Ken Joyner if a two-year cycle was considered, citing the “unique” fast-growing market.
Joyner said it would require significantly more manpower.
“We had some discussion internally,” Joyner said. “To move to a two-year cycle, we would have to hire an additional 40 appraisers. Right now, the revaluation staff — they work on the reval leading up to it, then assist on appeals on the back end. If you go to a two-year cycle, you would have to immediately begin working on the new revaluation.”
He said his team could review the numbers again if the board requests it.
Joyner noted that in 2021, Mecklenburg was the third fastest-growing market in the country, leading to significant increases in property values that came earlier this year. Homeowners’ values increased by an average of 58 percent in the recent assessment.
“I’m not sure we’ll see 28 percent growth in one single year again, Joyner said. “At least not before I retire, I hope.”
In August, Deputy Assessor Brad Fowler said corporate landlords accounted for the big jump in values.
The office will provide a copy of Tuesday’s resolution to each of the tax jurisdictions within the county.
This year, the Assessor’s Office was recertified for the Certificate of Excellence in Assessment Administration.