The County is responsible for appraising all commercial and small industrial properties. The Department of Revenue, Property Tax Division, Valuation Section is responsible for appraising all large improved industrial properties valued more than $1,000,000.
Commercial and industrial properties are often appraised based on the cost approach using Marshall & Swift Valuation Service cost factors due to the difficulty in obtaining rent and income data, although all three approaches to value (income, market and cost) are considered when determining the final value. A reappraisal of all commercial and county-responsible industrial properties is scheduled for tax year 2015.
Industrial properties with unique structures, machinery and equipment are required to file a Real Property Return and Personal Property Return if valued by the county, or an Industrial Property Return if valued by the Department of Revenue. These forms are required to be filed annually between January 1 and March 1 unless an extension is granted. Extension requests must be made in writing no later than February 15.