CHARLOTTE, N.C. (QUEEN CITY NEWS) — The property value of many homes in Charlotte skyrocketed in the 2023 revaluation.
Still, some of the swankiest country clubs in the same parts of town apparently lost value.
Now it’s up to Mecklenburg County commissioners to lower property tax rates so homeowners aren’t left out to dry while country clubs get off the hook.
“When I heard that country clubs had their tax burden go down,” said Kate Murphy, a Charlotte resident. “Then, when I heard that their taxes aren’t based on the value of their buildings and the dirt that they dig the golf holes in. That isn’t right, and it’s not equitable.”
Murphy attended the Mecklenburg County commissioners meeting to speak her mind in front of the board, and the tax accessor, Ken Joyner.
Joyner said the country clubs’ decrease in value from 2019 to 2023 has to do with the different methodologies used to calculate the value of these pieces of land.
But Commissioner Mark Jerrell still has questions about the reasoning behind this formula.
“The value of the dirt of one of my constituents, that live in Grier Heights, or Cherry or East Haven, or anywhere else, the value of your dirt is more than the dirt at this country club? Proportionally speaking, which I don’t know if I’m necessarily buying that,” Jerrell said.
The county uses the income approach to calculate the value of country clubs and the sales approach to calculate residential homes and land. To put things into perspective, according to this revaluation method, Charlotte Country Club was valued at $22 million in 2019 and is now valued at $12.2 million in 2023.
“So you’re telling me the values of the homes around the golf courses went up,” Jerrell said. “But those 20-30 acres, the value went down? When all over the County, the value of land has increased?”
Joyner said this structure is part of a general statute, and commissioners would have to get the North Carolina General Assembly to change the law if they want to change the method. But commissioners can set the County’s tax rate, and Jerrell is almost positive it will be lowered to counteract the skyrocketing property values.
“We talk about the tax rate; I do think that it’s going to fall precipitously,” Joyner said. “And so we’ve got to take a look at if there is going to be any level of increase based off of that revenue-neutral rate.”
The chairman of the board, George Dunlap, said the county’s property tax rate is around 62 cents right now, and they’re considering lowering it to 42 cents.
But it’s important to note even if county commissioners vote to lower the property tax rate if your home value skyrockets due to this revaluation, you’re still very likely to have to pay more in property taxes this year.