The Chatham Shagbark

Both Newland and MacGregor have overstated the property tax revenues that Chatham County will collect from their proposed developments. In their fiscal analyses for Briar Chapel and Booth Mountain, both companies neglect the fact that Chatham County only assesses property every four years, and that the assessment to market value ratio declines each year following the formal assessment. For example, last year Chatham collected property taxes from a base of only 89.76% of market value. That's a fact. (To see last year's numbers, you'll have to select the 2004-05 (Excel) link, which points to an Excel file download.)