Commercial property owners have the opportunity to assist Montgomery County’s 2014 revaluation project by providing the county with up-to-date data on their business operations.
More than 7,000 owners of commercial properties in Montgomery County have been mailed forms from the county auditor’s office requesting operating and rent information for 2011 and 2012. County Auditor Karl Keith said the requested data will be used by the county’s revaluation contractor, Tyler Technologies, in determining updated property values as part of the state-mandated project to be completed in 2014.
According to Keith, requesting operating information for leased properties is a standard mass appraisal practice.
“Physical property characteristics, current market conditions, and economic factors are all considered when determining values for commercial properties,” Keith said. “We have found that the most accurate information comes directly from the property owner.”
In addition, Keith said this is an opportunity for property owners to provide other useful information such as internal building conditions, overdue maintenance costs and occupancy rates. “All of this data will assist the effort to determine fair and equitable values,” he said.
Submission of this information is strictly voluntary and there are no penalties for failure to complete and return the forms.
Property owners with questions about the forms should contact the Montgomery County Auditor’s Office at 937-225-4326. Additional information about the 2014 Revaluation Project is available at www.mcreval.org.
Date: July 09, 2013