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April 3, 2017 (Work Session) Page 3085 <br /> A brief discussion ensued. During discussion, Ms. Fearrington responded <br /> to questions from the Board. <br /> Finance - Resolution Relating to Installment Contract Financings of Various <br /> School and County Projects <br /> Susan Fearrington, Finance Director, requested approval for a resolution <br /> enabling staff to enter into one or more installment financing contracts for <br /> various public school and county projects. She advised due to the increase in <br /> the price of the new high school as previously discussed, the resolution will <br /> be updated for approval at the regular meeting. <br /> A discussion ensued. During discussion, Ms. Fearrington, Mike Downs, <br /> County Manager and Pam Dubois, Senior Deputy County Manager, responded to <br /> questions from the Board. <br /> Tax Administration - Resolution Opposing Senate Bill 363 <br /> Eddie Mitchum, Tax Administrator, reviewed the potential impacts of Senate <br /> Bill 363 to the county. He requested the Boards' consideration to adopt a <br /> resolution in opposition to the bill. <br /> A brief discussion ensued. <br /> UPON MOTION of Vice Chairman Honeycutt, seconded by Commissioner Shue and <br /> unanimously carried, the Board suspended its Rules of Procedure in order to <br /> take action on this item due to time constraints. <br /> Chairman Morris read the resolution aloud. <br /> UPON MOTION of Commissioner Kiger, seconded by Commissioner Shue and <br /> unanimously carried, the Board approved a Resolution opposing Senate Bill 363. <br /> Resolution No. 2017-07 <br /> A RESOLUTION OPPOSING MODIFICATIONS TO THE <br /> MACHINERY ACT AS OUTLINED IN S363 "AN ACT TO MODIFY <br /> APPEALS OF PROPERTY TAX VALUATION WHERE THE APPEAL <br /> INVOLVES CERTAIN APPRAISALS" <br /> WHEREAS, the "Machinery Act, " the official title given to Subchapter II of <br /> Chapter 105 of the North Carolina General Statutes, governs the entire <br /> administrative structure of the property tax system used by counties and <br /> municipalities in North Carolina; and <br /> WHEREAS, Senate Bill 363 filed on March 22, 2017, removes the authority of the <br /> local Boards of Equalization and Review and the Property Tax Commission to make <br /> reasoned, informed decisions regarding the assessed values of properties; and <br /> WHEREAS, the bill removes the ability for both the Property Tax Commission and <br /> the local Boards of Equalization and Review to ensure that similar properties <br /> are appraised in a similar manner, thereby promoting inequality among property <br /> values; and <br /> WHEREAS, by promoting inequality among properties, the bill would create <br /> inequity among property owners through inequitable tax bills for similar <br /> properties; and <br /> WHEREAS, the bill appears to presume that a county can appeal the decision of <br /> the local Board of Equalization and Review to the State Commission; although <br /> the statutory appeal rights are available only to the appealing property owners, <br /> and not to the county; and <br /> WHEREAS, 5363 fails to recognize that appraisal opinions are almost always <br /> reflective of a range of values that are sometimes higher and sometimes lower <br /> than typical values; and <br /> WHEREAS, 5363 fails to recognize that the purpose for which an appraisal is <br /> conducted can have a significant impact on where the final value falls within <br /> a given range; and <br /> WHEREAS, because the bill would require adopting the value expressed in the <br /> appraisal, it is certain that neighboring and similar properties would become <br /> appraised at different levels; and <br />