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Cornelius News

What’s your property tax bill going to look like?

June 9. By Dave Vieser. With both the town and county budgets adopted, property owners in Cornelius can figure out what their tax bills will be when they are mailed out this summer.

Cornelius rate: .1731

County rate: .4731

The combined tax rate is .6462, with the county’s share at 73 percent.

—Multiply the property assessment by .006462 and you will have the amount of the tax bill.

For example, a property assessed at $500,000 would pay a total of $3,231, or .006462 times $500,000.

Tax rates lower, bills higher?

Yes, for the majority of property owners, their tax bills will be higher even though the new tax rates are lower.

The reason: significantly higher property values due to the recent countywide revaluation. Some property owners, who already had their tax values increased, will see tax bills relatively stable.

When will the tax bills be mailed?

The bills will go out in July, with payment due in September. Interest will be applied after the New Year if the bills remain unpaid.