The City of Charlotte will have a lot less tax revenue to work with partly thanks to a re-do of the botched 2011 property revaluation. That came as a surprise to council members last week. They questioned the county tax assessor Thursday to find out what happened.
Mecklenburg County hired the private firm Pearson to correct the 2011 property revaluation. Throughout the process the company told the county to plan on a smaller tax base. That tax base ended up dropping by $2 billion, way outside Pearson’s own projections.