Development, Value and Taxes (Urban3)

Orange County, NCTotal Value Per Acre

Chapel Hill, NCTotal Value Per Acre

Chapel Hill, NCTotal Value Per Acre

Hillsborough Carraboro Chapel Hill

Inline Strip Format

• Rams Gate• 14 acres• Land: $4,833,921• Building: $ 6,163,697• Total: $10,997,618

• Value per Acre: $815,206

Wal-Mart $612,717/acre

Value Per Acre

Lowes $816,557/acre

Value Per Acre

University Mall $868,731/acre

Value Per Acre

Timberlyne Shopping Center $ 928,548/acre

Value Per Acre

Meadowmont Retail $2,095,503/acre

East 54 $9,315,351/acre

Value Per Acre

Downtown Format

• Franklin and Columbia• .51 acres• Land: $5,385,950• Building: $3,759,876• Total: $9,145,826

• Value per Acre: $17,887,397

Bank of America Building $13,723,183/acre

Value Per Acre

Top of the Hill/Walgreens $17,887,397/acre

Value Per Acre

350 West Rosemary $23,932,268/acre

Value Per Acre

140 West Franklin $34,435,262/acre*

Value Per Acre

* Estimated assessment

Greenbridge $52,007,048/acre

Value Per Acre

Older Outparcel Format

• Hwy 70 Hillsborough• 2.3 acres• Land: $859,950• Building: $1,273,771• Total: $2,133,721

• Value per Acre: $950,348

Outparcel Format

• Franklin and Estes• .73 acres• Land: $880,100• Building: $1,179,500• Total: $2,059,600

• Value per Acre: $2,746,133

$2,862,072/acre

Carrboro Hampton Inn $33,475,350/acre

Franklin Hotel $18,444,973/acre

Europa Center $3,746,735/acre

Hotel Siena

Value Per Acre

0.7 acres of the Top of the Hill Building would equal the property taxes of the 13 acre Timberlyne Shopping Area

Orange County Property Tax Revenue Profile: 2013 Tax Yield per Acre

Timberlyne$11.98M on 12.9 acres

$9.1M on 0.5 acresTop of the Hill

0.3 acres of the West Franklin Building would equal the property taxes of the 13 acre Timberlyne Shopping Area



$60M on 1.74 acres140 West Franklin

0.2 acres of the Greenbridge Building would equal the property taxes of the 13 acre Timberlyne Shopping Area



$59.8M on 1.15 acresGreenbridge

There’s no way this works!

Coach. Its because of

density.

*Average values per Orange County

$0

$83,333

$166,667

$250,000

$333,333

$416,667

$500,000

Residential Commercial Mixed-Use

Orange County (Chapel Hill) Property Tax Revenue Profile: 2013 Tax Yield per Acre

Wal

mar

t

$153

,865

$219

,866

$287

,219

$445

,910

120

East

Fra

nklin

$295

,455

Coun

ty R

es. S

-F*

140

W F

rank

lin

City

Res

. S-F

*

Dtw

n. H

ampt

on In

n

$3,8

99

$5,2

59

$9,0

85

$955

$117

,238

Gre

enbr

idge

Joe Minicozzi,AICP : Asheville NC

350

Wes

t Ros

emar

y

City

Res

. M-F

*

$218

,535

$205

,660

$159

,213

Spot

ted

Dog

Fran

klin

Hot

el

Top

of th

e Hi

ll

Bank

of A

mer

ica

East

54

Gra

nville

Tow

ers

Euro

pa T

ower

s

Cast

alia

Carr

Mill

Mal

l

Autu

mn

Woo

ds

$80,

001

$64,

360

$49,

944

$33,

094

$16,

971

$15,

629

$12,

571

Tim

berly

ne

$10,

109

Dow

ntow

n CH

Ave

rage

$112

,168

$7,8

20

Coun

ty A

g*

311

Wes

t Ros

emar

y

Mea

dow

mon

t Inn

er

Circ

le

Mea

dow

mon

t Ret

ail

Dow

ntow

n Cb

Ave

rage

$32,

164

$30,

092

$17,

976

U-M

all O

ffice

Par

k

$7,9

69

BCBS

HQ

Univ.

Mal

l$7

,455

$4,7

83

3

Grand Junction, CO Glenwood Springs, CO

Rifle, CO

Asheville, NCDunn, NC

Sarasota, FL

Sheridan, WY

Billings, MTBozeman, MT

Driggs, ID

Completed Study

Urban

Cheyenne, WY

Petaluma

Laramie, WY

Columbia, SC

Modesto, CA

Casper, WY

Ft. Collins, CO

Merced, CA

Turlock, CA

Rockland, ME

Chattanooga, TH

Missoula, MT

Great Falls, MT

Wilmington, NC

$0

$125

$250

$375

$500

$402.80

$119.10

$76.80

$14.20$8.10$7.20$1.00

Residential

Commercial

Mixed-Use

County S-F City S-FWalmart Mall or strip Mixed-Use (2 Story)

Mixed-Use (3 Story)

Mixed-Use (6 Story)

Ratio Difference of 22 City Sample Set, Over 10 States 3UrbanJoseph Minicozzi, AICP

County Property Taxes/Acre

Development, Value and Taxes (Urban3)

Real Estate

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