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Retail properties to see largest jump in values, revaluation manager says

Chuck Hicks, Mecklenburg County revaluation manager

Chuck Hicks, Mecklenburg County revaluation manager

Retail properties in Mecklenburg County are likely to see the biggest increase in values based on preliminary data for the county’s 2011 revaluation, Chuck Hicks, the county’s revaluation manager, said today.

Overall, the impact on commercial values will be mixed, with moderate increases in industrial and office properties, said Hicks, whose office is wrapping up the revaluation of commercial properties. Apartment values are likely to increase the least, he said.

The early trends in data are consistent with previous revaluations, he said.

Commercial property owners should start receiving their 2011 revaluation notices Monday, he said. About 25,600 notices will be mailed, including 14,800 “improved commercial properties,” meaning those with buildings on them, and 10,800 vacant commercial lots.

Hicks said his office won’t know specific changes in commercial values until it runs more reports comparing values, which is expected to take several weeks.

Sam Boykin can be reached at sam.boykin@mecktimes.com.

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