Guilford County’s long-anticipated 2026 revaluation continues to unfold – and now the focus is shifting from homeowners to business owners.

As of noon on Tuesday, March 17, the county hadn’t yet released updated tax values for commercial, or business, properties. However, Guilford County Tax Director Ben Chavis told the Rhino Times on Tuesday morning that those values are expected to go live later today.

That means local business owners who’ve been watching the dramatic jump in residential values over the past month will soon get their first look at how their own properties were reassessed.

And according to Chavis, the outcome is likely to look different.

“Business property is a different animal,” he said Tuesday.

That short explanation points to a key distinction that has been somewhat lost in the public reaction so far. Residential property values in Guilford County appear to have increased well beyond early expectations. While the county had initially indicated that overall increases might come in around 45 percent on average, early data suggests the average jump for homes is clearly north of 50 percent – with some properties rising far more.

Commercial properties, however, are valued using a different set of tools – and in many cases, a different set of data that’s not fully transparent to the public.

Unlike residential properties, which are often assessed using comparable home sales that are widely available, business properties are frequently evaluated using income-based approaches, lease data and other financial metrics. Much of that information is considered proprietary and not publicly disclosed, which can make the process harder for property owners to independently verify the accuracy of their values.

That difference in methodology is one reason Chavis indicated that commercial properties may not see the same kind of across-the-board increases that have drawn so much attention in the residential market.

It also reflects broader economic trends: Across North Carolina and the country, residential real estate values have surged in recent years, driven by population growth, limited housing supply and strong demand.

The Piedmont Triad has been no exception. Major economic development announcements – including the Toyota battery manufacturing plant and other large employers moving into the region – have brought new residents and increased pressure on the housing market.

That demand has pushed home prices – and therefore tax values – sharply higher.

Commercial real estate has followed a more uneven path.

While some sectors, such as industrial and warehouse space, have seen strong demand, others – particularly office and certain retail segments – have faced headwinds in the wake of pandemic-era shifts in work and shopping habits.

As a result, increases in commercial property values have generally been more moderate and more variable than those seen in residential housing.

Locally, that dynamic may be even more pronounced.

While population growth tied to new jobs is fueling housing demand, that doesn’t always translate immediately into higher values for all types of business property.

For Guilford County property owners, the next step is simple.

Once the new commercial values are posted – which Chavis said should happen later today – business owners can visit the county’s website to look up their updated assessments and compare them to their 2022 values.  The values can by found by going to https://lrcpwa.ncptscloud.com/guilford/.

And just like residential property owners, business property owners will have the opportunity to appeal if they believe the new valuation does not accurately reflect the market.

If the early response to residential values is any indication, that process could soon become a busy one.

However, for now, county officials are watching closely to see whether commercial property owners react the same way homeowners have – or whether this “different animal” produces a different kind of outcome.

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