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October 17, 2011 (Regular Meeting) Page 654 transportation, improve the quality of water through natural buffers, promote healthy lifestyles by offering a place for exercise and recreation, and develop a sense of community through stronger social and family ties. Now, Therefore, Be It Resolved that Cabarrus County supports the application for a TIGER III Discretionary Grant to construct a transportation facility that will connect participating jurisdictions that include Cabarrus County, Mecklenburg County and the cities of Charlotte, Concord, Harrisburg and Kannapolis along routes associated with Carolina Thread Trail plans. Adopted this the 17 day of October, 2011 /s/ H. Jay White, Sr. H. Jay White, Sr., Chairman Cabarrus County Board of Commissioners Attest: /s/ Kay Honeycutt Kay Honeycutt, Clerk to the Board (G -6) Tax Administration - Adoption of the 2012 Schedule of Values Brent Weisner, Tax Administrator, reported the Schedule of Values was presented to the Board in August and it has been available to the public to review since then. He advised that issues raised by citizens have been addressed. He identified changes made to the Schedule during the review process. The changes are as follows: the base rate for single- family homes has been reduced from $70.00 to $68.00 per square foot; capitalization rates were clarified in Chapter 8; information on golf courses was added to Chapter 9; and, additional photographs were added to Chapter 12. He requested the 2012 Market Value Schedule of Values and the Present Use Schedule of Values be adopted separately and responded to several questions from the Board. Commissioner Carruth MOVED to approve the Market Value Schedule of Values and the Present Use Schedule of Values. Vice Chairman Poole seconded the motion. A general discussion ensued. Topics addressed included: the importance of public input on the next budget and future tax rate; if a revenue neutral tax rate is not adopted, programs will have to be cut; the fairness of conducing a revaluation now to reflect current market conditions; etc. Commissioner Burrage expressed concern that the base rate of $68.00 is not low enough. The MOTION to approve the 2012 Market Schedule of Values, carried with Chairman White, Vice Chairman Poole and Commissioners Carruth and Measmer voting for and Commissioner Burrage voting against. The MOTION to approve the 2012 Present Use Schedule of Values carried, with Chairman White, Vice Chairman Poole and Commissioners Carruth and Measmer voting for and Commissioner Burrage voting against. Commissioner Burrage stated he is not opposed to conducting the revaluation and explained that the amount of the base rate is why he voted against the motion. The Cabarrus County 2012 Appraisal Manual is as follows: Chapter 1 INTRODUCTION The primary purpose of real property, assessment is to arrive at a true value (market value) for each real property parcel for use in deriving property taxes that will be as equitable as is feasible given the time, staff and money available to the assessor. Market value as defined by "Machinery Act of North Carolina" under G.S. 105.283 Uniform Appraisal Standards is "the price estimated in terms of money at which the property would change hands between a willing and financially able buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of all the uses to which the property is adapted and for which it is capable of being used ". To accomplish the County's goal of determining just and equitable values the County Assessor must turn to mass appraisal methods and techniques based on solid appraisal principles. In mass appraising, as in any kind of