Friday, April 1, 2011

Charlotte's Shrinking Tax Base

I have to admit I'm an "Idiot" epic fail at SimCity, just when I think everything is going well the darn tornado shows up. So the fact that I don't get it is not a big surprise.

But how is it that a building on prime real estate goes down in value by 71% in 2003 and then another 5% in 2011?

Mar 21 2011 2011 Countywide Revaluation 1,064,400
Mar 21 2003 2003 Countywide Revaluation 1,128,100
Jun 12 1998 1998 Countywide Revaluation 3,933,350

I'll guess it has something with the building being sold to the Catholic Diocese in 2002but why would that lower the value of the property?

Extra Credit: Can you guess what building was built a year earlier using the same precast forms? Hint the company also sponsored a very successful golf tournament.


davechiswick said...

$1 million valuation or $10 million valuation, the property tax on this place is still zero. It's good to be a church.

Billy Fehr said...

ONE WACHOVIA is the answer to this reverse trivia question! Now it is Wells Far Go...