Commercial property owners in Wake County, North Carolina began receiving revaluation notices on January 18, 2024, and as our local experts forecasted in a tax development late last year, values increased significantly across all industries.
2024 assessments reflect the following increases:
- Commercial: 45%
- Industrial: 79%
- Apartments: 55%
- Office: 20%
- Hotels: 22%
- Retail: 33%
- Restaurants: 29%
- Mini-Storage: 113%
The local experts at Ryan have been anticipating these increases and have begun working with clients to ensure they have implemented strategies for maximum tax savings. While taxpayers have until May 15, 2024, to file a formal appeal, we recommend property owners to be proactive once notices arrive. We encourage you to reach out with questions and to discuss how our experts can assist.
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.