Thanks Greg. A related issue I've wondered about, as I had a slight awareness of the income approach twisted to short term rentals.
Why aren't they valued based on revenue? It would seem to me that is they bring in multiples of income above prevailing rents, that then that property should be appraised higher. It's a business, not a residence.
As an aside, when I worked as a census taker in 2020, sorry term rentals were not considered residential by the census.
What's a Country Club Worth?
Mark Jerrell, D4: mark.jerrell@mecklenburgcountync.gov
Leigh Altman, at-large: leigh.altman@mecklenburgcountync.gov
Pat Cotham, at-large: pat.cotham@mecklenburgcountync.gov
Arthur Griffin, at-large: arthur.griffin@mecklenburgcountync.gov
Elaine M. Powell, D1, vice-chair: elaine.powell@mecklenburgcountync.gov
Vilma Leake, D2: vilma.leake@mecklenburgcountync.gov
George Dunlap, D3, chair: george.dunlap@mecklenburgcountync.gov
Laura Meier, D5: laura.meier@mecklenburgcountync.gov
Susan Rodriguez-McDowell, D6: susan.rodriguez-mcdowell@mecklenburgcountync.gov
I don’t see our email addresses. Don’t forget to add them. We need to hear from people!
Thanks Greg. A related issue I've wondered about, as I had a slight awareness of the income approach twisted to short term rentals.
Why aren't they valued based on revenue? It would seem to me that is they bring in multiples of income above prevailing rents, that then that property should be appraised higher. It's a business, not a residence.
As an aside, when I worked as a census taker in 2020, sorry term rentals were not considered residential by the census.
Country clubs are non profits