Big uptown property owners win revaluation cases

Tax values lowered for many uptown buildings

The following article appeared in the Jan. 10, 2024, edition of The Charlotte Ledger, an e-newsletter with smart and original local news for Charlotte. We offer free and paid subscription plans. More info here.

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BofA succeeds in lowering values on uptown property; no cuts for Truist building or RailYard

by Tony Mecia

Bank of America and other uptown property owners are among the companies who have successfully appealed the property revaluations of expensive Mecklenburg County real estate, according to a new Ledger analysis.

Of the 10 most valuable parcels in Mecklenburg whose appeals of last year’s new valuations have been adjudicated, Bank of America owns four, and it succeeded in lowering the assessed values of all four, according to data from the county supplied to The Ledger last month.

According to a Ledger review of the data, the bank succeeded in lowering the tax values of:

• the Bank of America Corporate Center (from $344.9M to $307.5M)

• the center’s parking deck across College Street (from $303.4M to $284M)