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Newtown Macon released a statement this week saying downtown's property value has increased more than $91 million from 2012 to 2016. They say that generated more than $1.3 million in additional revenue for the county in 2016.
We talked to Brandon Hancock and Andrew Eck from LandLink analytic services, the group Newtown brought in to find these numbers, and to Bibb County Chief Tax Appraiser, Andrea Crutchfield.
For six weeks, Eck and Hancock analyzed the values behind downtown Macon properties.
“All of it's out there publicly, but it’s just having the right people to go in there, crunch the numbers, and provide it back to them,” says Hancock.
First, they took a look at the properties within this grid and determined their overall value by looking to the tax assessors website.
“So, that’s no models or anything. That’s just a fact that they grew by $91 million,” says Eck.
They found that from 2012 to 2016 property values went up $91.7 million in downtown.
“Increase of $1.3 million of annual generated tax revenue,” says Hancock.
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