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House panel OKs Mecklenburg revaluation bill

A state House committee on Tuesday approved proposed bill to redo Mecklenburg County’s flawed 2011 revaluation, and give refunds to property owners who were assessed too highly.

House Bill 200 cleared the chamber’s Finance Committee after a morning meeting. It was not immediately clear where the bill will go next.

The bill calls for the county to update its property records and to conduct a new revaluation within 18 months. The owner of a property that was overvalued in 2011 would receive refunds with interest, under the bill. But anyone whose property was appraised too low would receive a new bill.

A similar version of the revaluation legislation has already cleared the state Senate. Sen. Jeff Tarte of Cornelius, who was one of the primary sponsors of the Senate bill, has said the goal is to ensure a “fair and accurate valuation” of properties.

An independent study last year found widespread errors or discrepancies in the 2011 revaluation. That outside firm, Pearson’s Appraisal Service, is still reviewing values in neighborhoods across Mecklenburg.

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