For the median home in Buncombe County — worth $231,400 before revaluation and $291,000 now — the new rate would boost taxes by over 16%, from $1,224 to $1,423 per year. The percentage increase is greater than the roughly 14% rise commissioners approved in 2017.
“I appealed revaluation twice and received valuable adjustments each time.”
If the Buncombe County Board of Commissioners were to maintain the property tax rate at 52.9 cents per $100 of assessed value for fiscal year 2021-22, noted Buncombe budget analyst Rusty Mau, the county would see about $237 million in property tax revenue, up nearly 12% from the $212 million budgeted for 2020-21.
Eastern Band of Cherokee Indians Principal Chief Richard Sneed, whose tribe owns two casinos in Western North Carolina, had lobbied the board to oppose the rival operation at an Aug. 4 briefing. He argued that the Catawba Indian Nation, members of which primarily reside in South Carolina, were not properly authorized to operate gaming across state lines.
The Buncombe County Board of Commissioners will consider approving the property tax revaluation schedule and economic incentives during its meeting on Tuesday, Sept. 20.
