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Updated almost 8 years ago on . Most recent reply

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1,014
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Henri Meli
  • Investor
  • Morrisville, NC
672
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1,014
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Question on tax valuation of property

Henri Meli
  • Investor
  • Morrisville, NC
Posted

I recently purchased a commercial building and paid 65% of the county assessed tax value of the building. The owners wanted to sell it really bad. The building was no longer fully leased and most of the leases were well below market value.

I'm considering challenging the assessed tax value of the building and bring it closer to the amount I paid. 

Anyone has any experience with this type of challenges?

Do I have a case? Could this challenge influence the price I sell the building at, if I decide to sell it ... let's say a couple of years from now?

The building is located in Wake County, North Carolina. 

Thanks for the input.

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