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CABARRUS COUNTY 2012 APPRAISAL MANUAL <br />INCOME APPLICATION TABLE <br />APPLICATION DESCRIPTION <br />CODE <br />REQUIRED DATA <br />APPLICABILITY <br />#1 <br />Land Residual <br />LRST <br />1- <br />Net Annual Income <br />Short-term lease & <br />Straight Line <br />2- <br />Current B1dg.Value <br />rental properties. New <br />3- <br />Remaining Economic Life <br />or nearly new buildings. <br />(Known building value.) <br />#2 <br />Land Residual <br />LRLA <br />1- <br />Net Annual Income <br />Long -term lease & new <br />Present Value <br />2- <br />Current Bldg. Value <br />or nearly new buildings. <br />or Discounted <br />3- <br />Remaining Economic Life <br />(Known building value.) <br />Cash Flow <br />4- <br />Discount Rate <br />#3 <br />Building <br />BRST <br />1- <br />Net Annual Income <br />Short-term lease & rental <br />Residual, <br />2- <br />Current Land Value <br />properties. (Known land <br />Straight -line <br />3- <br />Remaining Economic Life <br />value.) <br />4- <br />Discount Rate <br />#4 <br />Building <br />BRLA <br />1- <br />Net Annual Income <br />Long -term lease & good land <br />Residual <br />2- <br />Current Land Value <br />comparables. (Known land <br />Present Value <br />3- <br />Remaining Economic Life <br />value.) <br />4- <br />Discount Rate <br />#5 <br />Property <br />PRLA <br />1- <br />Net Annual Income <br />Long -term lease, overall rate <br />Residual with <br />2- <br />Current Land Value <br />obtained from comparable sales. <br />land reversion <br />3- <br />Expected Land Grow Rate <br />at the end of period <br />4- <br />Discount Rate <br />5- <br />Remaining Economic Life <br />#6 <br />Ellwood Mortgage <br />EQTY <br />1- <br />Net Annual Income <br />Sophisticated, short -term <br />Equity <br />2- <br />Investment Period <br />(5 -10 yr.), investors, recent <br />3- <br />Mortgage Term <br />refinancing and current <br />4- <br />Annual Mortgage Rate <br />dependable growth forecast. <br />5- <br />Loan to Total Ratio <br />6- <br />Desired Yield <br />7- <br />Expected Appreciation ( +) <br />or Depreciation ( -). <br />#7 <br />Annual Gross <br />AGIM <br />1- <br />Gross Annual Income <br />Sufficient sales with a high <br />Income Multiplier <br />2- <br />Annual Gross Income <br />degree of comparability to <br />Multiplier <br />establish a reliable Annual <br />Gross Income Multiplier <br />Cabarrus County — 2012 Revaluation <br />INCOME PROPERTY <br />VALUATION 8 -13 <br />05/24/01 <br />Attachment number 11 <br />G -3 <br />Page 416 <br />