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Board reviews commercial properties, apartments

POSTED: September 16, 2013 12:29 a.m.
 

The Forsyth County Board of Tax Assessors reviewed staff recommendations for change assessment notices and agreements for appeals of 2013 property values Thursday.

Commercial properties and apartment complexes drew some focus during the board’s monthly meeting.

An income model used to value “big box” retailers came in close to the actual profit of most of the stores, but some adjustments were made for the Kroger-anchored plaza off of Freedom Parkway and the Kohl’s shopping center on Market Place Boulevard.

The board also lowered the value for shopping centers with tenant vacancies, noting that the northern part of the county remains stagnant while the south end is growing.

A couple of apartment complexes received assessments that would double their property value for 2013, but a settlement agreement will bring the sites’ value up over a few years, said Chief Appraiser Mary Kirkpatrick.

Members also reviewed requests for tax-exempt properties for faith-based uses.

The board denied the request by CDF LLC for tax exemption since the entity leases the site for use by churches, but isn’t a church itself.

Members also denied tax-exempt status in 2013 for Hightower Baptist Association, since it did not close on the property by Jan. 1. The board encouraged the group to reapply for the status in 2014.

Also during the meeting, Kirkpatrick announced that Deputy Chief Appraiser James Payne will retire after 34 years with Forsyth County.

“I will miss him both personally and professionally,” she said.

Payne said he’d enjoyed his time working at Forsyth County, but it was simply “time for [him] to go.”

 

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