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January 28, 2012 (Board Retreat) Page 950
<br />The Board of Commissioners for the County of Cabarrus met in recessed
<br />session in Helm's Hall at Camp T. N. Spencer in Concord, North Carolina on
<br />Saturday, January 28, 2012, at 8:30 a.m.
<br />Present - Chairman:
<br />Vice Chairman
<br />Commissioners
<br />Elizabeth F. Poole
<br />Larry M. Burrage
<br />Robert W. Carruth
<br />Christopher A. Measmer
<br />H. Jay White, Sr.
<br />Also present were Mike Downs, County Manager; Jonathan Marshall, Deputy
<br />County Manager; Pam Dubois, Deputy County Manager; Aimee Hawkins,
<br />Communications and Outreach Manager; Erica Nesbitt, Budget and Performance
<br />Manager; and Kay Honeycutt, Clerk to the Board. Karen Cimino with the
<br />Independent Tribune was also present.
<br />Call to Order
<br />After breakfast was served, Chairman Poole called the meeting to order
<br />at 8:36 a. m.
<br />Tax Department - Revaluation: Update & Projections
<br />Mike Downs, County Manager, welcomed Dr. Carol Spalding, President of
<br />RCCC (Rowan - Cabarrus Community College), to the meeting.
<br />Brent Weisner, Tax Administration, Chris Ferris, Real Property Manager
<br />and David Thrift, Real Property Supervisor, provided an update on the
<br />reevaluation project and related projections. Information presented included
<br />the following: sales ratio study, value change by percent of change, value
<br />change by tax district, land value maps, tax base preliminary estimate and
<br />the appeal's process. Highlights of the presentation included a significant
<br />decrease in property values as set forth in the tables below:
<br />2012 REVALUATION
<br />Value Change by Percent of Decrease
<br />County Totals
<br />Total Parcels 2012
<br />Total Value
<br />2011
<br />Value
<br />2012
<br />Proposed Value
<br />%
<br />Change
<br />Market Value*
<br />$19,448,839,388
<br />$16,792,282,758
<br />- 13.659%
<br />Assessed Value **
<br />$ 18,238,133,771
<br />$15,810,157,378
<br />- 13.313%
<br />Land Value
<br />2011
<br />Value
<br />2012
<br />Proposed Value
<br />%
<br />Change
<br />Market Value*
<br />$7,515,593,797
<br />$6,120,032,503
<br />- 18.569%
<br />Assessed Value **
<br />$ 6,304,888,180
<br />$5,137,907,123
<br />- 18.509%
<br />Deferred Value
<br />$ 1,210,705,617
<br />$982,125,380
<br />- 18.880%
<br />Improvement Value
<br />2011
<br />Value
<br />2012
<br />Proposed Value
<br />%
<br />Change
<br />Market Value*
<br />$11,933,245,591
<br />$10;672,250,255
<br />- 10.567%
<br />Assessed Value **
<br />$11,933,245,591
<br />$10,672,250,255
<br />- 10.567%
<br />* Market value does not include exempt properties.
<br />** Assessed value consists of market value minus present use deferred value.
<br />2012 REVALUATION
<br />Parcels Grouped by Percent of Value Change
<br />Totals by Percent of Change
<br />Range of % of Number
<br />Value Change Total Parcels o Parcels
<br />> 40.00% decrease 2.44% 1,966
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