(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: [email protected]
Customer Service: 910-678-7507
County website: www.co.cumberland.nc.us/tax
From: Sally Shutt, Public Information Officer
910-437-1921
email: [email protected]
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)
