It is property assessment time in Wake County. It’ll be Meck’s turn next year. Check out how it is goin’:
Brian Phillips was stunned when he checked the updated property assessment for his family’s home in western Wake County.
Since the last revaluation in 2000, the total value for his three acres and two-story house had shot up about 140 percent to $686,900. But what really jolted Phillips was the value of his three acres. It had jumped more than 640 percent to $416,250.
“I bought this and built it to live on it for my life,” said Phillips, an engineer. “I don’t want to have to sell it because I can’t afford the taxes.”
Local jurisdictions will soon calculate the revenue neutral rate given the higher valuations, but there is no guarantee that they will enact them — not with all the whining about needed more revenue that is afoot.
