County Tax Revaluations Complete

(from Cumberland County government memo)

to view the entire document click here  http://County Tax Revaluation Shows Decrease

Revalution Call Center:  910-678-7800, February 1 – 28
8:oo a.m. – 5:00 p.m. – Monday, Wednesday, Friday
8:00 a.m. – 7:00 p.m. – Tuesday, Thursday

Email to File an Appeal:  revalappeals@co.cumberland.nc.us
Customer Service:  910-678-7507
County website:  www.co.cumberland.nc.us/tax

From:  Sally Shutt, Public Information Officer
910-437-1921
email:  sshutt@co.cumberland.nc.us

Tax officials estimate the taxable value for real property in Cumberland County has dropped approximately $560 million, or 2.9 percent from 2016.  The decrease means the county faces a potential loss of $4.1 million in tax revenue.

Overall, residential assessed values are down 4.9% percent and commercial assessments are up 4 percent.  Approximately 72 percent of the tax base comes from residential properties and 28 percent from commercial and industrial.

County Manager Amy Cannon – “We have some challenges and the best thing we can do is develop some options for the board to consider,” “That could include reducing our expenditures, which may lead to a reduction in county services.”

Another option is adjusting the tax rate.  Based on information today, the county would need to raise the tax rate approximately 2 cents to generate the same tax revenue as before the revaluation.

Other Municipalities:

Fayetteville – dropped $435 million (3.5 percent)

Hope Mills – dropped $2.5 million (.3 percent)

Spring Lake – dropped $6.2 million (1.5 percent)

Eastover – dropped $4.4 million (1.7 percent)

Stedman – dropped $183,284 (0.2)

Wade – INCREASED $445, 510 (1.4 percent)

Godwin – INCREASED $290,264 (4.5 percent)

Falcon – INCREASED $246,447 (1.9 percent)

Linden – dropped $101,606 (0.7)

 

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Published by Angie Hedgepeth

Angie Hedgepeth, Government Affairs Director for the Association, attends all the local meetings each month, as well as NAR and NCAR meetings, and keeps members abreast of the multiple issues being addressed in local, state and national government. She prepares reports on the meetings she attends and they are included in the weekly "Government Affairs Update".