All real property – residential and commercial – was subject to revaluation this year. Approximately half the properties were reappraised at a higher value and half at a lower value. The Board of County Commissioners set a tax rate of 81.66 cents per one-hundred dollars of assessed value as part of the FY12 budget process. The combination of the new value and new tax rate will be reflected in the bills being sent on August 29. The total County tax revenue generated from all residential and commercial property is $819 million. Municipal taxes and/or Law Enforcement Service District tax is also included in these bills.
Business Personal Property
Nearly 37,000 of the bills are for business personal property accounting for more than $71 million in County revenue. Municipalities also derive revenue from these bills. This is a tax on equipment and other property used to conduct business.
Individual Personal Property
This group includes vehicles and trailers, jet skis, boats, boat motors, aircraft, manufactured homes and income producing farm equipment. There are more than 16,000 bills in this category, accounting for nearly $1.5 million in tax.
An additional 30,000 properties will not be billed until October because the property values are still under appeal.
Real estate and personal property bills are due September 1, 2011. Those not paid on or before January 5, 2012 are subject to two-percent interest for January and an additional three-quarters percent each month after that. Property owners with a question about their bill are encouraged to call 311 if calling from within Mecklenburg County or 704-336-4600 if calling from outside the County.