RUTHERFORDTON—County leaders continue to hear complaints about the recent property tax revaluations. Property owners across Rutherford County received their new valuations in the mail last month. The values are much higher than most people anticipated, and citizens who own property are concerned about what this means for their tax bills.
The county government administers the revaluation process, and uses the valuations to determine a county tax rate. Municipal governments also use the official county revaluations as they set the town tax rates.
County commissioners set the county tax rate based upon recommendation from the county manager and his staff, who create the county budget. The budget process is just now beginning, and the new county tax rate will be set in June.
County commissioners have said repeatedly that there will be a county tax rate reduction, in light of the new property revaluations. Commission Chairman Bryan King, at the March meeting of county commissioners, also encouraged municipal leaders to drop their tax rates.
Many town leaders are saying that they will do just that.
“The news shook the county, as most everyone saw a large increase in property values,” said Rutherfordton Town Manager Doug Barrick. “In Rutherfordton, values have increased across the board by a whopping 45%.”
“We would like to make one thing clear,” Barrick continued. “While the tax value has increased by 45%, we expect that tax rates will decrease significantly to help offset the higher values. The town of Rutherfordton is currently doing ‘revenue neutral’ exercises that calculate what the tax rate would be to generate the same revenue with the higher values.”
Barrick, and other officials, point out that the large property value increase is not only happening in Rutherford County.
“It’s happening across our state, as it is a culmination of a lack of real estate options,” Barrick said.
Until there is a larger inventory of available housing options, officials say supply and demand will continue to drive up property values, especially home prices.
Spindale Town Manager Scott Webber says Spindale will also likely see a large reduction in its tax rate.
“We are working toward a revenue neutral budget. But with inflation, costs of operations are up,” Webber said.
Officials can’t promise that no one’s tax bill will increase at all, because everyone’s property did not increase by exactly the same amounts.
“I am also a property owner, and I don’t want to pay higher taxes, just like everyone else,” said Spindale Mayor Mickey Bland. “Our tax rate will be reduced. An individual’s tax bill may not remain the same, but we want them all to be sensible and reasonable. I want everyone’s taxes to be as low as possible.”
NOTE: Rutherford County government leaders including commissioners and the county manager will host a public meeting dedicated to discussing the property revaluation. The meeting will be this evening (Thursday, March 22), beginning at 6 p.m. at the Rutherford County Administration Building (County Annex), 289 N. Main Street, Rutherfordton. There will be additional seating in an overflow room, and the meeting will be livestreamed on the internet.
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