Cleveland NC Town Board Jan 2023 - Property Valuations Mean Taxes Going UP
Cleveland NC town board met tonight 1-9-2023 for the first meeting of 2023. The mayor, board members (except for Commissioner Danny Gabriel), police chief, and town clerks/finance officer were all in attendance. Rowan County Tax Assessor Chip Main came to the meeting to let town leaders know that valuations will be higher this year. This, in turn, means that residents and businesses will be paying higher taxes in 2023. In fact, taxes could rise quite a bit this year. Main gave a very general example of a $300,000 house in the county being valued at $220,000 during the previous valuation cycle. Increases could be similar, higher, or lower in Cleveland. Reappraisals on properties in Cleveland will put land/houses at market value as of 1-1-2023. A number of things are taken into consideration like actual locations and how the market is doing locally. So, it is not possible right now to say how much values will go up (and taxes). But, it is certain that they will go up in this economy.