Posts Tagged ‘Union County’

Big Increase in Number of Union County $1 Million Homes

The number of $1 million homes in Union County has more than tripled since 2004. In 2004 Union County’s tax records indicated 306 homes valued over $1 million. As of the last real estate property valuation, Union County now has 1,010 million dollar properties! That’s tremendous growth!

As recently reported, Union County NC was ranked the 7th fastest growing county in the nation. With its close proximity to Charlotte’s major banking industry, its no wonder there are so many new million dollar homes!

There are many prestigious neighborhoods in Union County that have homes worth over $1 million. Weddington, NC alone  has 228 homes valued over $1 million. Roughly half of those homes are located in the Highgate subdivision.

With such growth in the region, coupled with the lower county taxes and better schools, Union County will surely see more of these types of properties. However, one should note that the median home priced for sale in Union County is around $173,000.

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Union County NC is 7th Fastest Growing County in US

According to new census data, Union County (just south of Charlotte NC) is growing. Not only is it growing, but Union County NC is the 7th Fastest Growing County in America! Union County is by far the fastest growing county in North Carolina. That basically means that more people are moving to Union County, including the cities of Monroe, Indian Trail, Weddington, Waxhaw, and Stallings. There are a number of smaller communities in Union County, all expanding from this explosion of growth!

Its no wonder why Union County is growing. With the proximity to Charlotte NC, the nation’s 2nd largest banking center, there are a number of great jobs. With the lower taxes, great schools and southern hospitality, Union County has a lot to offer anyone moving to the Charlotte area.

Here are the 8 North Carolina counties that ranked in the top 100 Fastest Growing (according to US Census data):

• Union #7
• Brunswick #17
• Cabarrus #29
• Wake #33
• Johnston #58
• Pender #71
• Mecklenburg #82
• Iredell #90

90,000 Union County Properties Notified of Revaluation

Around March 17, some 90,000 Union County property owners will be notified of the new property values by which the county will base their taxes. For many people, this could be mixed news. While a higher tax value on a property can be a good indication of the real estate’s appreciation, this can also mean higher taxes will be charged to the owner.

In North Carolina, counties are required to reassess the value of real estate every 8 years. In some counties with fast growth, counties are doing it more often. Union county is one of the fastest growing counties in the state and currently are reappraising the value after only 4 years.

Union County’s growth is due to the lower real estate taxes, great school reputations and the proximity to Charlotte. Some of the major towns in Union County include Monroe, Waxhaw, Weddington, Marvin, Indian Trail, Stallings, Wingate, and Wesley Chapel. There are over 80 communities within Union County. The Union County real estate market is solid right now and offers a great value and alternative to buying a home in Charlotte.

Property owners in Union County are permitted to challenge the assessment if they feel the value on their property is too high. For more information on how to challenge your property’s value, call Union County at 704.283.3546.