The property revaluation in Catawba County was the biggest jump in values we have seen in a very long time, and have since stirred up roughly 6,300 property owners to appeal their new valuation.
Most valuations were increased by 50-70%, so many people saw an increase of well over $100,000.
With many of the counties residents being shocked and stressed with a shifting economy, the number of appeals that the tax office received was 6,260 as of March 13. The tax office is handling all appeals, and any that are unresolved are being sent to the Board of Equalization and Review, which will hold its first meeting on April 3.
Balancing the Sheets
To address the concerns of the public regarding these increased valuations, and to keep the balance sheets in order from all of the extra money they would be receiving to use on the same budget, the county is leaning towards lowering the tax rate to offset the increase in tax values.
The Catawba County Manager, Mary Furtado, gave us our first idea of what these rates might look like during a budget workshop with the commissioners on Monday.
She said that we can expect the tax rate to drop from 57.5 cents per $100 value down to 41-43 cent per $100.
The goal with this new rate is to create gradual growth. It is not intended to net the county the exact same amount of money, but instead to net them enough to include regular growth.