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October 17, 2011 (Regular Meeting) Page 673 full value and each additional lot will be valued at 500 of value unless the size of the house built required the use of 2 or more lots in which case all lots will be valued at full value. Example l: Typical lot size is 75 feet and the subject lot is two 75 foot lots. 100% + 50% = 1500 - 150°/2 lots = 75% or a -25% Size Adjustment. Price as 2.00 LT with a condition factor of 75% HSE ON 2 LTS. Example 2: Typical lot size is 75 feet and the subject lot is three 75 foot lots. 1000 + 50% +50% = 200% - 200 % /3 lots = 670 or a -33% Size Adjustment. Price as 3.00 LT with a condition factor of 67% HSE ON 3 LTS. In custom quality neighborhoods where additional lots may be necessary to accommodate the size of the home being built, all lots may need to be valued at full value. 3) If the 50% rule does not work for a particular neighborhood adjust the percentage to whatever the market dictates, say 30 %, 75% etc. and follow the examples above. LAND MODEL 00 - Unit Lot Value Pricing (Typical lot is 1 acre or less) Site suitability for a septic system when sewer is not available: For parcels that do not have access to a sewer system consideration must be given, if the parcel has had a site evaluation or preliminary evaluation performed by the Health Department or a Licensed Soil Scientist which resulted in it being deemed unsuitable. Before determining the amount of adjustment to be made information must be received to determine what restrictions have been placed on the lot. Bedroom limits may be established for lots that are found to be marginally suitable. A property owner may wish to build a 5 bedroom house on their lot but the lot may be found suitable for no more than 3 bedrooms. In this case the lot is a suitable building lot with restrictions. In this case the adjustment could vary depending on the area the lot is located in. If building a three bedroom home is a reasonable highest and best use for the lot then no adjustment is required. However, if the lot is located in a subdivision that is made up of large homes with 4 and 5 bedrooms then the use of the subject lot is impaired and consideration should be given at the determination of the appraiser. If a lot has limited or no suitability for a conventional septic system there are numerous options to make the lot buildable using alternative systems or proprietary systems. The following is a list of various types of septic systems and a general estimate of their average cost. Systems that can be approved by the local Health Department: System Average Cost 3 BR Soil Depth Requirement Conventional Gravity System $ 4,000 36 inches of suitable soil Low Pressure System $ 6,000 24 inches of suitable soil Drip System $28,000 18 inches of suitable soil Pre - treatment Drip System $40,000 As little as 12 inches of suitable soil Systems that can be approved by the State of North Carolina: System Average Cost 3 BR Soil Depth Requirement Pre - treatment Surface Drip System $45,000 As little as 6 inches of (Requires 2 acres or more) suitable soil Adjustments for Lots Requiring Non - conventional Septic Systems: (NCSS) Calculate an adjustment to the nearest 5% based on the cost to cure that will deduct the following values from the subject lot: Suitable for Conventional System No adjustment Low Pressure System Required $ 2,000 Drip System Required $24,000 Pre - treatment Drip System Required $36,000 Pre - treatment Surface Drip System Required $41,000 Once the septic system has been installed this adjustment is to be