Charlotte Luxury Homes and Tax Values



Charlotte Area Luxury Homes

Many are seeking Charlotte Luxury Homes for Sale and and want to know the relationship of Sales Price and Tax Values.  Sales price is at today's current market value.  Market Value is not necessarily the list price but actually the amount a willing buyer is ready to spend and a willing seller will accept.

Tax Value is a snap shot in time.  Each County in NC assesses property values every 4 to 8 years.  For Example, Mecklenburg County just reassessed Charlotte homes in 2011 and the "new tax values" are reflected in the current tax bills. 

A County Wide Assessment results in a "Bulk Assessment".  Basic factors are compared and the value is determined (location, price per sq foot plus adjustments).  The tax assessor does not enter a home so the real values of two "apparently similar" homes can realistically have far different market values.

The owner can protest the assessment during a short period after the home is assessed.  After that, the current and future owners are stuck with the assessed values until the next assessment period.   Is this good or bad?  Well, that depends.

If you pay substantially more than tax value, and the value you paid is realistic, then you are going to save a lot in property taxes until next reassessment.  If you pay substantially less than tax value, you likely got a great deal in the price of your home.  If this is the case, your tax bill will be high based on the price you actually paid but you still got a great deal!

Call today to find the ideal Charlotte area luxury home for you.  I am very familiar with this market and it is an ideal time to take advantage of low interest rates and capitalize on the Charlotte Real Estate market prior to the economic turn around impacts home values!

Contact me today to learn more at rjwaite1@gmail.com or 704-770-6559.

Authored by Rick Waite