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CABARRUS COUNTY 2012 APPRAISAL MANUAL
<br />assessed value figures for real and personal property reported by the county to the Local Government Commission
<br />for the preceding year. In any county which fails to demonstrate that it follows accepted guidelines and practices,
<br />the percentage to be applied shall be the median ratio for real property. The percentage established in a year in
<br />which a sales assessment ratio study is conducted shall continue to be applied until another study is conducted by
<br />the Department of Revenue.
<br />(c) Notice of the median ratio and the percentage to be applied for each county shall be given by the
<br />Department of Revenue to the chairman of the board of commissioners not later than April 15 of the year for which
<br />it is to be effective. Notice shall also be given at the same time to the public service companies whose property
<br />values are subject to adjustment under this section. Either the county or an affected public service company may
<br />challenge the real property ratio or the percentage established by the Department of Revenue by giving notice of
<br />exception within 30 days after the mailing of the Department's notice. Upon receipt of such notice of exception, the
<br />Department shall arrange a conference with the challenging party or parties to review the matter. Following the
<br />conference, the Department shall notify the challenging party or parties of its final determination in the matter.
<br />Either party may appeal the Department's determination to the Property Tax Commission by giving notice of appeal
<br />within 30 days after the mailing of the Department's decision.
<br />(d) Property that is in a development financing district and that is subject to an agreement entered into
<br />pursuant to G.S. 159 -108 shall be assessed at its true value or at the minimum value set out in the agreement,
<br />whichever is greater.(1939, c. 310, s. 500; 1953, c. 970, s. 5; 1955, c. 1100, s. 2; 1959, c. 682; 1967, c. 892, s. 7;
<br />1969, c. 945, s. 1; 1971, c. 806, s. 1; 1973, c. 695, s. 12; 1985, c. 601, s. 1; 1987 (Reg. Sess., 1988), c. 1052, s. 1;
<br />2003 -403, s. 20.)
<br />ARTICLE 14
<br />§ 105 -286. Time for general reappraisal of real property.
<br />(a) Octennial Plan. -- Unless the date shall be advanced as provided in subdivision (a)(2), below, each county of the
<br />State, as of January 1 of the year prescribed in the schedule set out in subdivision (a)(1), below, and every eighth
<br />year thereafter, shall reappraise all real property in accordance with the provisions of G.S. 105 -283 and 105 -317.M
<br />(1) Schedule of Initial Reappraisals.- -
<br />Division One - -1972: Avery, Camden, Cherokee, Cleveland, Cumberland, Guilford, Harnett, Haywood, Lee,
<br />Montgomery, Northampton, and Robeson.
<br />Division Two - -1973: Caldwell, Carteret, Columbus, Currituck, Davidson, Gaston, Greene, Hyde, Lenoir, Madison,
<br />Orange, Pamlico, Pitt, Richmond, Swain, Transylvania, and Washington.
<br />Division Three- -1974: Ashe, Buncombe, Chowan, Franklin, Henderson, Hoke, Jones, Pasquotank, Rowan, and
<br />Stokes.
<br />Division Four - -1975: Alleghany, Bladen, Brunswick, Cabarrus, Catawba, Dare, Halifax, Macon, New Hanover,
<br />Surry, Tyrrell, and Yadkin.
<br />Division Five - -1976: Bertie, Caswell, Forsyth, Iredell, Jackson, Lincoln, Onslow, Person, Perquimans, Rutherford,
<br />Union, Vance, Wake, Wilson, and Yancey.
<br />Division Six - -1977: Alamance, Durham, Edgecombe, Gates, Martin, Mitchell, Nash, Polk, Randolph, Stanly,
<br />Warren, and Wilkes.
<br />Division Seven - -1978: Alexander, Anson, Beaufort, Clay, Craven, Davie, Duplin, and Granville.
<br />Division Eight - -1979: Burke, Chatham, Graham, Hertford, Johnston, McDowell, Mecklenburg, Moore, Pender,
<br />Rockingham, Sampson, Scotland, Watauga, and Wayne.
<br />(2) Advancing Scheduled Octennial Reappraisal. - -Any county desiring to conduct a reappraisal of real property
<br />earlier than required by this subsection (a) may do so upon adoption by the board of county commissioners of a
<br />resolution so providing. A copy of any such resolution shall be forwarded promptly to the Department of Revenue.
<br />If the scheduled date for reappraisal for any county is advanced as provided herein, real property in that county
<br />shall thereafter be reappraised every eighth year following the advanced date unless, in accordance with the
<br />Cabarrus County — 2012 Revaluation INTRODUCTION 1-4
<br />8/9/11
<br />Attachment number 3
<br />G -5 Page 285
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