The Charlotte Observer reported on Monday that the State has ordered Union County to perform a revaluation for all properties in Union County.
This was the result of state’s recent sales assessment ratio study, which looks at a property’s current assessed value and compares that against actual sales prices.
Union County is the only county (out of all 100 counties in North Carolina), required to perform a revaluation within the next three years.
According to the report, the average property in the county was assessed at nearly 20 percent over the actual market value.
Last year the commissioners decided to cancel the planned revaluation for this year and delay the revaluation until 2016. Why? The state report verifies what every home owner in the county already knew: our homes will not sell for what the County says they are worth!
Given this new information, and the commissioners’ previously stated concerns about the amount of taxes we are paying, why don’t we just get this done now and hold off on talks about dropping the tax rate?
If they vote to drop the property tax rate now, and wait until 2015 to perform the revaluation, you can bet we will need to raise the property tax rate to make up for the loss of revenue.
Commissioners, if you are truly worried about all the taxes we are paying, the state just gift wrapped your justification for doing this now. Our homes are worth 80 percent of what you say they are.
Spare us the politics and do the right thing. Please.
Unincorporated Union County