As reported earlier this year, Wake County, North Carolina is performing a 2024 county-wide revaluation for the first time in four years. Read more.
Commercial property owners across the county can anticipate receiving their revaluation notices in the mail beginning January 18, 2024. Based on a comparison of 2023 transaction commercial real estate pricing in Wake County relative to current assessment levels, the local experts at Ryan are expecting the following average increases in the 2024 revaluation.
- Apartments: 50%
- Industrial: 40%
- Office: 15%
- Retail: 15%
- Hotels: 20%
Taxpayers in Wake County have until May 15, 2024, to file a formal appeal, but it is imperative to be proactive when notices start to arrive on January 18. The local experts at Ryan are available to answer questions and assist with strategies to ensure you receive maximum tax savings.
TECHNICAL INFORMATION CONTACTS:
Suzanne Markley
Principal
Ryan
404.942.6393
suzanne.markley@ryan.com
Alexander Carr
Senior Manager
Ryan
404.365.0922
alexander.carr@ryan.com
Hailey Garrett
Senior Manager
Ryan
404.365.0922
hailey.garrett@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.