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October 17, 2011 (Regular Meeting) Page 658
<br />that county shall thereafter be reappraised every eighth year following the
<br />advanced date unless, in accordance with the provisions of this subdivision
<br />(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
<br />thereby be established for that county.
<br />(b) Fourth -Year Horizontal Adjustments. - -As of January 1 of the fourth year
<br />following a reappraisal of real property conducted under the provisions of
<br />subsection (a), above, each county shall review the appraised values of all
<br />real property and determine whether changes should be made to bring those
<br />values into line with then current true value. If it is determined that the
<br />appraised value of all real property or of defined types or categories of
<br />real property require such adjustment, the assessor shall revise the values
<br />accordingly by horizontal adjustments rather than by actual appraisal of
<br />individual properties: That is, by uniform application of percentages of
<br />increase or reduction to the appraised values of properties within defined
<br />types or categories or within defined geographic areas of the county.
<br />(c) Value to Be Assigned Real Property When Not Subject to Appraisal. - -In
<br />years in which real property within a county is not subject to appraisal or
<br />reappraisal under subsections (a) or (b), above, or under G.S. 105 -287, it
<br />shall be listed at the value assigned when last appraised under this section
<br />or under G.S. 105 -287. (1939, c. 310, s. 300; 1941, c. 282, ss. 1, 11/2;
<br />1943, c. 634, s. 1; 1945, c. 5; 1947, c. 50; 1949, c. 109; 1951, c. 847;
<br />1953, c. 395; 1955, c. 1273; 1957, c. 1453, s. 1; 1959, c. 704, s. 1; 1971,
<br />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
<br />rules.
<br />(a) Whenever any real property is appraised it shall be the duty of
<br />the persons making appraisals:
<br />(1) In determining the true value of land, to consider as to each
<br />tract, parcel, or lot separately listed at least its
<br />advantages and disadvantages as to location; zoning; quality
<br />of soil; waterpower; water privileges; dedication as a nature
<br />preserve; conservation or preservation agreements; mineral,
<br />quarry, or other valuable deposits; fertility; adaptability
<br />for agricultural, timber- producing, commercial, industrial, or
<br />other uses; past income; probable future income; and any other
<br />factors that may affect its value except growing crops of a
<br />seasonal or annual nature.
<br />(2)
<br />In determining the true value of a building or other
<br />improvement, to consider at least its location; type of
<br />construction; age; replacement cost; cost; adaptability for
<br />residence, commercial, industrial, or other uses; past income;
<br />probable future income; and any other factors that may affect
<br />its value.
<br />(3)
<br />To appraise partially completed buildings in accordance with
<br />the degree of completion on January 1.
<br />(b) In
<br />preparation for each revaluation of real property required by
<br />G.S. 105 -286,
<br />it shall be the duty of the assessor to see that:
<br />(1)
<br />Uniform schedules of values, standards, and rules to be used
<br />in appraising real property at its true value and at its
<br />present -use value are prepared and are sufficiently detailed
<br />to enable those making appraisals to adhere to them in
<br />appraising real property.
<br />(2)
<br />Repealed by Session Laws 1981, c. 678, s. 1.
<br />(3)
<br />A separate property record be prepared for each tract, parcel,
<br />lot, or group of contiguous lots, which record shall show the
<br />information required for compliance with the provisions of
<br />G.S. 105 -309 insofar as they deal with real property, as well
<br />as that required by this section. (The purpose of this
<br />subdivision is to require that individual property records be
<br />maintained in sufficient detail to enable property owners to
<br />ascertain the method, rules, and standards of value by which
<br />property is appraised.)
<br />(4)
<br />The property characteristics considered in appraising each
<br />lot, parcel, tract, building, structure and improvement, in
<br />accordance with the schedules of values, standards, and rules,
<br />be accurately recorded on the appropriate property record.
<br />(5)
<br />Upon the request of the owner, the board of equalization and
<br />review, or the board of county commissioners, any particular
<br />lot, parcel, tract, building, structure or improvement be
<br />actually visited and observed to verify the accuracy of
<br />property characteristics on record for that property.
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