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Board of Equalization sets Rocky Mount Mills assessed value at $16.73 million after quasi-judicial hearing
Summary
After a quasi-judicial appeal, the Nash County Board of Equalization and Review set the assessed value for the Rocky Mount Mills property at $16,728,170, rejecting the taxpayer's lower income-based figure and the county's earlier higher replacement-cost figure.
After a quasi-judicial hearing conducted Sept. 8, the Nash County Board of Equalization and Review set the taxable assessed value for the Rocky Mount Mills property at $16,728,170.
The appellant (taxpayer) argued the income approach best reflected market value and proposed a combined approach averaging actual development cost and the 2023 income performance, yielding a requested value of $13,463,502. County appraisers and the county attorney presented a combined-income-and-cost…
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