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CABARRUS COUNTY 2012 APPRAISAL MANUAL
<br />provisions of this subdivision (a)(2), an earlier date shall be adopted by resolution of the board of county
<br />commissioners, in which event a new schedule of octennial reappraisals shall thereby be established for that county.
<br />(b) Fourth -Year Horizontal Adjustments. - -As of January 1 of the fourth year following a reappraisal of real
<br />property conducted under the provisions of subsection (a), above, each county shall review the appraised values of
<br />all real property and determine whether changes should be made to bring those values into line with then current
<br />true value. If it is determined that the appraised value of all real property or of defined types or categories of real
<br />property require such adjustment, the assessor shall revise the values accordingly by horizontal adjustments rather
<br />than by actual appraisal of individual properties: That is, by uniform application of percentages of increase or
<br />reduction to the appraised values of properties within defined types or categories or within defined geographic areas
<br />of the county.
<br />(c) Value to Be Assigned Real Property When Not Subject to Appraisal. - -In years in which real property within a
<br />county is not subject to appraisal or reappraisal under subsections (a) or (b), above, or under G.S. 105 -287, it shall
<br />be listed at the value assigned when last appraised under this section or under G.S. 105 -287. (1939, c. 310, s. 300;
<br />1941, c. 282, ss. 1, 11/2; 1943, c. 634, s. 1; 1945, c. 5; 1947, c. 50; 1949, c. 109; 1951, c. 847; 1953, c. 395; 1955, c.
<br />1273; 1957, c. 1453, s. 1; 1959, c. 704, s. 1; 1971, c. 806, s. 1; 1973, c. 476, s. 193; 1987, c. 45, s. 1.)
<br />ARTICLE 19
<br />Administration of Real and Personal Property Appraisal.
<br />§ 105 -317. Appraisal of real property; adoption of schedules, standards, and rules.
<br />(a) Whenever any real property is appraised it shall be the duty of the persons making appraisals:
<br />(1) In determining the true value of land, to consider as to each tract, parcel, or lot separately listed
<br />at least its advantages and disadvantages as to location; zoning; quality of soil; waterpower;
<br />water privileges; dedication as a nature preserve; conservation or preservation agreements;
<br />mineral, quarry, or other valuable deposits; fertility; adaptability for agricultural,
<br />timber - producing, commercial, industrial, or other uses; past income; probable future income;
<br />and any other factors that may affect its value except growing crops of a seasonal or annual
<br />nature.
<br />(2) In determining the true value of a building or other improvement, to consider at least its
<br />location; type of construction; age; replacement cost; cost; adaptability for residence,
<br />commercial, industrial, or other uses; past income; probable future income; and any other
<br />factors that may affect its value.
<br />(3) To appraise partially completed buildings in accordance with the degree of completion on
<br />January 1.
<br />(b) In preparation for each revaluation of real property required by G.S. 105 -286, it shall be the duty of the
<br />assessor to see that:
<br />(1) Uniform schedules of values, standards, and rules to be used in appraising real property at its
<br />true value and at its present -use value are prepared and are sufficiently detailed to enable those
<br />making appraisals to adhere to them in appraising real property.
<br />(2) Repealed by Session Laws 1981, c. 678, s. 1.
<br />(3) A separate property record be prepared for each tract, parcel, lot, or group of contiguous lots,
<br />which record shall show the information required for compliance with the provisions of G.S.
<br />105 -309 insofar as they deal with real property, as well as that required by this section. (The
<br />purpose of this subdivision is to require that individual property records be maintained in
<br />sufficient detail to enable property owners to ascertain the method, rules, and standards of
<br />value by which property is appraised.)
<br />(4) The property characteristics considered in appraising each lot, parcel, tract, building, structure
<br />and improvement, in accordance with the schedules of values, standards, and rules, be
<br />accurately recorded on the appropriate property record.
<br />Cabarrus County — 2012 Revaluation INTRODUCTION 1-5
<br />8/9/11
<br />Attachment number 3
<br />G -5 Page 286
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