For the first time ever, commercial property owners in Mecklenburg County will be taxed on income performance of their buildings vs. adjusted value. And even though we are talking about taxes here, the idea is getting a warm welcome. ?It's really the only fair way to do it,? says Greg Finnican, president of Atlantic Realty & Development. Commercial properties now can't be sold for what it cost to build them, he says, so they shouldn?t be taxed that way. County taxmanChuck Hicks says vacancy rates will be key to establishing the new assessments. Owners still may appeal if they disagree. (The volumeof appeals in years past is what prompted the change in the first place.) |
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Atlantic Realty
, Mecklenburg County
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