A local business feeling the affects of a recessionary economy today was denied its appeal for a lower tax value by Halifax County commissioners, which convened as the board of equalization and review.
Collier Investments, which owns Collier Harley-Davidson, appealed the current year county assessment of $3,330,520.
This has been the value of the property since the 2007 revaluation, according to information from the county Tax Office contained in the agenda packet.
“An appraisal for this property was done April 2010 for Branch Banking & Trust Company,” the memo said. “That appraisal indicated a value of $3,125,000 effective April 8, 2010. Considering the sharp decline in the real estate market since 2007, there is not a large difference between this 2010 appraisal and the county’s 2007 appraisal of the property.”
The memo notes in non-revaluation years the assessor may not change the value of real property because of inflation, deflation or other economic conditions affecting the county.
“Our dealership has seen good times and bad,” Jenger Adams, a realtor and member of the Collier family told the board. “We have survived many obstacles over the past 45 years as of today.”
Beginning the business on Highway 158, the company added buildings and expanded, she said, Harley-Davidson redesigning its showroom in the late 90s. “My father paid for all the upgrades with the earned income from the dealership, never having to look for outside lenders. I can remember during the construction of the old dealership I worried about the cost. Financial responsibilities have always been seen as part of our daily duties to the dealership.”
As the motorcycle’s popularity increased, a move was made to expand closer to the interstate, Adams told the board. The new building was to be a satellite store until it was decided two stores would not be as prosperous.
The business, however, has been struggling in the poor economy. “Our mission is to grow and build Collier Harley-Davidson back up to a prosperous corporation to pass to our families,” Adams said. “Over the past two years during this recession we have all learned even more about commitment. We all must join with one another so that the strong will survive this hardship and our dealership will pull through this tough market.”
Adams said she is concerned with the current forecast by the National Association of Realtors, which predicts 14 percent of retail businesses will close across the country in the next year. “We in our city now see more than 80 vacant retail spaces in our town just on four of the main roads with one new, large plaza vacant beside our dealership with a road that goes nowhere. We have lost enough small businesses in our town. Our own economic development offers little help to existent business owners.”
Two-third of sales were short sales or foreclosures, she said, quoting information she said was provided by the tax department. “We at Collier Harley-Davidson ask our leaders to lower our tax value to help our dealership continue to provide service to our town. We have provided a current commercial appraisal for your review. We must all work together to survive this recession.”
Tax Assessor Franklin Graham reiterated during discussion of the matter economic conditions, by law, is not a reason to change the appraisal.
Because of the state law, Commissioner Carolyn Johnson made the motion to deny the appeal, in which the company sought to have the business appraised at the BB&T value, a $205,520 difference.
Adams and her brother Mark Collier said during a break in the meeting they would appeal the board’s decision to the state.
