‘That is a huge increase’: Homeowners in Meck. County shocked to see property revaluations
The new value of homes presents challenges for longtime homeowners in Charlotte.
CHARLOTTE, N.C. (WBTV) - Mecklenburg County homeowners are starting to get their revaluation notices in the mail, and you can look those up online.
For months now, the county has warned some property values could increase by as much as 51 percent.
WBTV spent the day in Wesley Heights talking to people about their property value increasing and side-by-side as some saw the newly accessed value of their home for the first time.
Gerry Johnson, a Wesley Heights homeowner, was shocked to see the appraised value of her home.
“That is a huge increase,” Bailey Griswold, another Wesley Heights homeowner, said. “I mean, that’s almost double what we’re paying now…for a 1,600 square foot house.”
For many, it came as an instant surprise as homeowners saw their new appraised property value for the first time.
From the 2019 property revaluation to 2023, Griswold’s property value jumped by $140,000.
“$500 a month, I mean like...that’s a big difference,” Griswold said.
The new value of homes presents challenges for longtime homeowners in Wesley Heights.
“I purchased my home over 35 years ago and the value has gone up almost tenfold,” Johnson said.
Johnson’s home is valued over a half-million dollars, far more than what she paid for it in 1986.
She currently pays about $3,700 in property taxes and will likely now pay more with this revaluation.
“That’s a very big strain on seniors and people on fixed income, and I love my neighborhood, I want to stay here,” Johnson said. “They should be able to come up with a way to alleviate us from the taxes.”
Retired people living in the neighborhood for decades said it’s a struggle financially living there, and the rising property values in Mecklenburg County won’t help.
On average, values for residential property increased by 58 percent increase and increased by 41 percent for commercial properties.
“I get it paid but this time I don’t know how I’m going to get in paid,” Hattie Eaves, another homeowner, said.
Neighbors believe there should be help from the city and county to help older residents and people on limited income stay in their homes.
“I’m worried that if people can’t afford to stay here, then the neighborhood will get less diverse over time,” Griswold said.
If something doesn’t change, longtime neighbors worry they’ll be forced to sell their homes.
Homeowners who believe their property value is incorrect can file an appeal. Mecklenburg County says taxpayers must make this appeal within 30 days of getting your initial notice of value by mail.
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