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2023 Mecklenburg County tax revaluations have been released; this is the first time the valuation has been done on a 4-year cycle (versus the every 8-year cycle historically).
Home values have increased by 40-50%, which can be shocking at first; however, we have not yet seen the corresponding tax rate that will be adjusted later this year. While it is very likely your taxes will go up, it is unlikely that they will go up by as much as your value increased. You can watch our video to learn more about what the recent re-valuation means to you, but there may be some opportunities for homeowners with their potential new found equity.
Do you want to know what your new property value is? Click the button below to access the Mecklenburg County GeoPortal and follow the following steps:
The average property valuation increased 58% in the 2023 Mecklenburg County property revaluation, is now the perfect time to leverage your increased equity?
If you’re a homeowner, you’re probably familiar with the idea of using your home equity to upgrade to a larger home. With the recent property revaluation, you may be surprised at how much your property value has increased. The average 58% increase in Mecklenburg County residential values means that you could have significantly more equity to put toward your larger home purchase.
Thinking of downsizing? Now may be the perfect time to cash out the equity in your home and begin searching for the home for the next phase of your life. You could potentially end up with money in your pocket!
By state law, property revaluations happen every four years to update fair market values of properties in the county. This is good news for homeowners who are looking to use their equity for their next home purchase. With rising property values, you can take advantage of your increased equity and move up to the home of your dreams or downsize and potentially walk away with home in your pocket.
Whether you’re looking for more space for your growing family, a larger yard for your pets, want to enjoy the finer things in life, or are ready for a more hassle free lifestyle now is the time to make your move. Contact us to find out what your options are
Do you want to talk to us about your home value, or are you interested in talking about potential home-buying opportunities with your potential new found equity? Contact Us!