Taxes are billed to the owner of the property as of January 1 of the current tax year .
State law requires a reassessment, or revaluation, of real property at least once every eight years.
In Charlotte-Mecklenburg, real property may be revalued more frequently. The most recent revaluation was done in January of 1998. The Real Estate Manager, under the direction of the Tax Administrator, accomplishes this task through a staff of in-house appraisers. To create a real estate tax base for the county, and also to determine equitable distribution of the tax burden. The price in terms of money that a property will bring if exposed on the open market, between a willing seller and buyer, both of whom are fully informed of all the uses, advantages and disadvantages of the property, and each acting in a prudent manner.