Medline

The five properties with the highest assessed value are all located within the Lincoln County Industrial Park, including the Medline distribution center, which checks in at number two with an assessed value north of $26 million. 

LINCOLNTON – The results of Lincoln County’s 2019 tax revaluation aren’t as eye-popping as in Mecklenburg County, where revals are done on an eight-year cycle compared to Lincoln’s four, but it should come as no surprise that property values have increased across the board as Denver continues to develop.

“I would call the increase over the past four years ‘moderate,’” Lincoln County Chief Tax Appraiser Chris Nelson said.

“I think one thing that helps with that is the four-year reval, unlike in Mecklenburg where they do it every eight years,” Lincoln County Tax Administrator Susan Sain added. “That really makes a huge difference because it makes everything a little bit easier on everyone involved. I agree with the assessment of a moderate increase, and it’s much easier for a taxpayer to absorb that moderate increase every four years.”

In Lincoln, while it’s not official yet since the county has to wait for the state to evaluate certain properties like the Duke Energy facility on Old Plank Road, the total assessed value of all property is expected to increase by about $1 billion over the year prior to the reval, according to the county tax department’s current best estimate.

“We have an estimate of what the county’s total assessed value for this year would be, but it’s only an estimate for a couple of reasons,” Nelson said. “We’re talking about real estate, and that’s part of the reason why it’s only an estimate. Then we have registered motor vehicles, which are taxed by the fiscal year rather than the calendar year, so if I tell you what I think that number is going to be, it’s just an estimate. I think I’ll be close, but can I give you the exact number? No, because it hasn’t happened yet.”

In a more detailed breakdown of the reval, Nelson estimates that about half of all Lincoln County parcels increased in value by 5-20 percent. Of the remaining parcels, he estimates that half increased by less than 5 percent, while the other half – consisting mostly of land that has been developed since the previous reval – increased by more than 20 percent.

The Lincoln County Industrial Park off of U.S. 321 north of Lincolnton houses the county’s five properties with the highest assessed values. The RSI Home Products manufacturing facility boasts the county’s highest assessed value at nearly $53.3 million, which is more than double that of the nearby Medline facility that checks in at second on the list.

Wal-Mart

The Denver Wal-Mart is Lincoln County's second-highest assessed commercial property in terms of value, behind only the Palisades Apartment Complex in Lincolnton. 

In terms of commercial properties, the Palisades apartment complex in Lincolnton has the highest assessed value at more than $19.1 million, although the Denver Wal-Mart near the intersection of N.C. 73 and N.C. 16 Business isn’t far behind.

The top two Lincoln County residences in terms of assessed property value both sit on the banks of Lake Norman. In fact, while not quite next door neighbors, the homes are both located on Norman Estates Drive. The property that tops the list is valued at more than $5 million, while the runner-up checks in just north of $4 million.

While property values have gone up, that doesn’t necessarily mean Lincoln County residents will see their property taxes increase. The final piece of this puzzle, which hinges on the county setting its property tax rate for the upcoming fiscal year, has yet to be placed. The Lincoln County Board of Commissioners will meet for its fourth and final budget workshop later this month, where the tax rate will likely be discussed for the first time publicly.

“All that we’re giving residents is the assessed value of their property,” Sain said. “We’re not telling them how much they’ll be paying in taxes, and I think that’s one thing that confuses some people. They see that amount on their revaluation notice, and they think that’s what they’ve got to pay in taxes when that’s not the case at all.”

Lincoln County mailed revaluation assessment notices to its residents on Valentine’s Day. Those wishing to appeal the assessed value of their property should contact the appraisal department within 30 days of the date of the notice. The appeals process can be initiated by submitting the form included with the notice, or by calling the county appraisal office, 704-736-8670.

Below is a list of the 10 industrial/commercial properties with the highest assessed value, and the top three residential properties in terms of assessed value.

Blum

The Blum facility on Old Plank Road in Stanley boasts the highest assessed value of any property outside of the Lincoln County Industrial Park. 

Industrial/Commercial

1. Lincolnton Partners LLC, 838 Lincoln County Pkwy., Lincolnton

RSI Home Products

81.969 acres, built 2003

Value: land $2.1 million, building $51.1 million

Total: $53.2 million

2. Medline Industries Inc., 917 E. Powell Drive, Lincolnton

Medline distribution center

44.834 acres, built 2014

Value: land $1.4 million, building $24.7 million

Total: $26.1 million

3. 1000 East Powell Drive LLC, 1000 E. Powell Drive, Lincolnton

Keller Logistics Group Warehouse

94.574 acres, built 2008

Value: land $2.321 million, building $18.679 million

Total: $21 million

4. TKC XXXV LLC, 773 Lincoln County Pkwy., Lincolnton

American Tire Distributors distribution center

29.206 acres, built 2001

Value: land $1.23 million, building $19.026 million

Total: $20.256 million

5. 621 Lincoln County Parkway Extension LLC, 621 Lincoln County Pkwy. Ext., Lincolnton

Crate & Barrel distribution center

33.429 acres, built 2005

Value: land $1.156 million, building $18.777 million

Total: $19.993 million

6. Julius Blum Inc., 7733 Old Plank Road, Stanley

Blum manufacturing facility

36.306 acres, built 1979

Value: land $908,162, building $18.967 million

Total: $19.876 million

7. Triangle Real Estate of Gastonia Inc., 101 Palisades Drive, Lincolnton

Palisades of Lincolnton apartment complex

15.151 acres, built 2017

Value: land $1.1 million, building $18 million

Total: $19.149 million

8. Walmart Real Estate Business Trust, 7131 N.C. 73, Denver

Denver Wal-Mart

41.644 acres, built 2006

Value: land $6.336 million, building $12.171 million

Total: $18.508 million

9. AptarGroup Inc., 3300 Finger Mill Road, Lincolnton

Aptar manufacturing facility

23.7 acres, built 2001

Value: land $984,645, building $15.8 million

Total: $16.797 million

10. The Timken Company, 1000 Timken Place, Iron Station

Timken manufacturing facility

270.3 acres, built 1979

Value: land $4.5 million, building $12.1 million

Total: $16.6 million

Residential

Norman Estates

The two highest valued residential properties in Lincoln County are housed within Norman Estates, a gated community that sits on the banks of Lake Norman.

1. East Denver Revocable Trust, 8465 Norman Estates Drive, Denver

House 9,335 square feet, 1.4 acres waterfront, built 2008

Value: land $930,750, building $4.3 million

Total: $5.3 million

2. Howard and Mary Battista, 8495 Norman Estates Drive, Denver

House 7,194 square feet, 2.436 acres waterfront, built 2011

Value: land $1.3 million, building $2.7 million

Total: $4.1 million

3. Donna Downs, 980 Orchard Crest Drive, Vale

House 10,065 square feet, 10.164 acres, built 2011

Value: land $55,553, building $3.7 million

Total: $3.8 million

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