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Source: Cabarrus County Tax Department <br />119114 <br />Table 7 <br />Cabarrus County, North Carolina <br />Principal Property Tax Payers, <br />Current Year and Nine Years Ago <br />Fiscal Year 2011 <br />Fiscal Year 2002 <br />Percentage <br />Percentage <br />of Total <br />of Total <br />Assessed <br />Assessed <br />Assessed <br />Assessed <br />Taxpayer <br />Type of Business <br />Valuation <br />Rank <br />Valuation <br />Valuation <br />Rank <br />Valuation <br />Philip Morris, Inc <br />Cigarette Mfg. <br />$ 658,584,244 <br />1 <br />3.10% <br />$1,112,792,816 <br />1 <br />10.07% <br />Charlotte Motor Speedway, Inc <br />Auto Racing <br />341,838,152 <br />2 <br />1.61% <br />132,941,582 <br />5 <br />1.20% <br />Castle & Cooke NC, LLC <br />Land Developer <br />323,496,522 <br />3 <br />1.52% <br />- <br />- <br />Concord Mills LTD Partnership <br />Shopping Center <br />240,875,353 <br />4 <br />1.13% <br />152,843,618 <br />4 <br />1.38% <br />Corning, Inc <br />Fiber Optics Mfg. <br />126,774,986 <br />5 <br />0.60% <br />354,715,263 <br />2 <br />3.21% <br />Hendricks Motorsports, Inc. <br />Auto Racing <br />110,338,122 <br />6 <br />0.52% <br />- <br />- <br />Duke Energy Corp <br />Public Service Co. <br />94,123,454 <br />7 <br />0.44% <br />61,967,018 <br />7 <br />0.56% <br />Great Wolf Lodge of the Carolinas <br />Recreational Facility <br />85,200,643 <br />8 <br />0.40% <br />- <br />- <br />Wal- Mart/Sams <br />Retail Sales <br />69,757,852 <br />9 <br />0.33% <br />JQH- Concord Development, LLC <br />Hotel <br />67,618,717 <br />10 <br />0.32% <br />- <br />- <br />Fieldcrest/Cannon, Inc <br />Textiles <br />- <br />191,436,696 <br />3 <br />1.73% <br />CTC /CT Communications <br />Public Service Co. <br />85,659,439 <br />6 <br />0.77% <br />Pass & Seymour /Legrand <br />Electroncis <br />43,489,430 <br />8 <br />0.39% <br />Michigan Packaging Company <br />Corrugated Paper Mfg <br />28,459,545 <br />9 <br />0.26% <br />Stanley Works, The <br />Tool Warehouse <br />28,221,619 <br />10 <br />0.26% <br />Totals <br />$2,118,608,045 <br />9.97% <br />$2,192,527,026 <br />19.83% <br />Source: Cabarrus County Tax Department <br />119114 <br />