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Office owner challenges Clay County assessment amid long‑term vacancy and a June 2023 refinance appraisal
Summary
Owner representative cited a high vacancy rate and rent‑loss adjustments; county staff pointed to a June 2023 refinance appraisal that it says values the asset substantially higher.
A representative for the Briarcliff Office (Building 1, part of a five‑building office portfolio) asked Clay County to lower the assessment for a single building citing prolonged vacancy, tenant improvement costs and market weakness for class‑B office space.
The owner representative said the building has suffered long‑term vacancy since 2019 (citing suites vacant on multiple floors) and estimated a significant two‑year rent loss and tenant improvement allowance that together lowered…
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