Asheville Property Revaluation & Tax Rate Decision June 2027

Buncombe County's first property revaluation in five years will force Asheville City Council to decide whether to raise property taxes when they adopt the fiscal year 2027 budget in June.

North Carolina law requires the city to calculate a "revenue neutral tax rate" after revaluation. This rate would generate the same total property tax revenue as before the revaluation. Council can set the rate above this level if needed to balance the budget.

The impact varies by property. Values increased unevenly across the city, so some residents will pay more in taxes while others will not. Property taxes fund more than half the city's general fund, which pays for police, fire, garbage collection, street maintenance, and parks.

City staff projected a $30 million budget shortfall for the next fiscal year when planning began in December, citing slowed revenue growth and rising employee healthcare costs. Staff have reduced that gap to approximately $10.5 million through vacant position eliminations and operational cuts. They will present a balanced budget to Council in June.

Council will hear public comment on the proposed budget on May 26 and vote on June 9. Both meetings begin at 5 p.m. in Council Chambers at City Hall, 70 Court Plaza.