Mecklenburg County Tax Assessor Garrett Alexander provided an update on the 2011 revaluation. This was the first countywide reappraisal of real property in Mecklenburg County since January 2003. The value of 355,000 properties was estimated for the 2011 reappraisal, the largest revaluation effort in State history. The total value of all real property grew from $82.5 billion in 2010 to $93.2 billion in 2011. Only two-thirds of the properties increased in value as a result of the reappraisal. This is the first time such a large number of parcels remained unchanged or decreased in value. Garrett explained how new technologies were implemented to improve assessment quality and revaluation efforts.
In addition to Alexander’s presentation the Board invited David Baker, Director of the N.C. Department of Revenue’s local government division to discuss the County’s revaluation sales ratio.
2011 Flood Quick Buy Program
The Board voted to appropriate $2.5 million from the Storm Water Services fund balance for the acquisition of properties damaged by flooding on August 5. Approximately 50-60 structures flooded within the Irwin and Sugar Creek watersheds, just west of Interstate 77. “Quick Buy” programs were implemented after similar floods impacted other parts of Charlotte-Mecklenburg in 2003 and 2008. The concept was to voluntarily acquire flood prone homes with 100% local funding while the homes were still in damaged condition. CMSWS successfully acquired and removed 46 homes from the floodplain as part of these programs. Approximately 20 single family residential buildings that had interior flooding would be eligible for the 2011 Quick Buy.
Center City 2020 Vision Plan
Real Estate Services Director Mark Hahn and Charlotte Center City partners President Michael Smith presented on the Center City 2020 Vision Plan. The plan outlines growth and development of Charlotte-Mecklenburg’s urban core over the next decade and beyond. The consulting team included the following Charlotte firms: urban designers Cole Jenest and Stone, marketing communications firm Wray Ward, and transportation consultant Kimley-Horn & Associates. The Board will vote on this item at a future meeting.