Durham Downtown is changing and there are many naysayers and many that are jumping on the bandwagon hoping to ride the wave to new fortunes. A potentially interesting event coming up listed below. Part of the problem with the downtown revitalization is that this is not the first time that people have poured money into downtown hoping for a change. This time around however there appears to be A LOT MORE money flowing into the project so for everyone's sake, so we hope to see the turnaround that will create a flourishing economic treasure for the City of Durham.
Upcoming Events
March 31, 2008 -- 1st Annual Downtown Durham Conference -- http://www.durhamconference.com/
The purpose of the Downtown Durham Conference is to foster awareness of the revitalization of downtown Durham. The conference will feature a panel of city leaders, Duke University officials, and real estate developers involved with downtown Durham. The panel discussion will focus on the collaboration of the city, developers, and Duke to rebuild downtown.
The panel will include:
- Bill Kalkohf, President of Downtown Durham Inc.
- Michael Lemanski, Managing Partner of Greenfire Development
- Andy Rothschild, President of Scientific Properties
- Patrick Baker, Durham City Manager
- Mike Woodard, Durham City Councilman
- Scott Selig, Associate Vice President of Capital Assets at Duke
- Dr. Phail Wynn, Vice President of Durham and Regional Affairs at Duke
The conference will consist of a panel discussion from 7-9 PM followed by a reception. The event will be located at the Love Auditorium, Duke University West Campus. Free parking will be available at the Bryan Center Parking Lot.
With the 2008 Tax Revaluation in Durham County, our office has had quite a few large portfolio of properties come in for representation on the appeal. We have literally done hundreds of properties already. Many people do not realize that they can appeal their taxes if the market value is lower than the assessed value. A good barometer for yourself - is "Would you sell/market the property at the assessed value and expect a reasonably informed buyer to purchase it at that price?" If the answer is yes, it is possible that you won't have a supportable appeal. In any case, an appraiser is well equipped to provide you with a supportable opinion of value using market data. The appraiser will also have no bias or attachment to the property. Keep in mind that when it comes to selling - owners believe that their property is gold but all of a sudden on a tax appeal they have found every reason of why it is worthless. Tax assessors know owners have attachments to their property and without substantial documentation many of the owner represented tax appeals fail. Typically, an appraiser can provide you with an appraisal that would show the market value of the property as of the date of re-assessment which then you can take in to the tax office during your appeal. Alternatively, in our office we represent the client in the appeal and do the appraisal and the appeal itself. One advantage of having the appraiser represent you is that particularly in our office - we have significant experience with doing tax appeals and also relationships with the tax assessors. We all have to pay our share of fair taxes in this case - the burden of proof is on the owner to show what is fair.
Regards,
Sunny Yu
NC State Certified General Appraiser - Broker
Pickett-Sprouse Real Estate
Commercial Real Estate Broker and NC State Certified General Appraiser
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