BC 2011 10 17 Regular Meeting - Laserfiche WebLink

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October 17, 2011 (Regular Meeting) SP 170% X 60% 102% SP 275% X 600 1650 UP 170% X 60% 102% UP 275% X 60% 165% RD 170% X 55% 94% RD 275% X 55% 151% SD 170% X 55% 94% SD 275% X 55% 151% UD 170% X 55% 94% UD 275% X 55% 151% DW 170% X 60% 102% DW 275% X 60% 165% RG 170% X 55% 94% RG 275% X 55% 151% SG 170% X 550 94% SG 275% X 55% 151% UG 170% X 55% 94% UG 275% X 550 151% GW 170% X 60% 102% GW 275% X 60% 165% RT 170% X 50% 85% RT 275% X 50% 138% PD 170% X 50% 85% PD 275% X 50% 138% Page 712 Example: A house and a singlewide mobile home are located on a parcel that has a market value base price of $9,000 per acre and priced using land model 4 with Rural Paved (RP) access. There would be two one acre home -sites each priced as follows: $9,000 x 260% _ $23,400 per Homesite. All other disqualified land will be priced according to its highest and best use based on market value prices used in the neighborhood of the subject property. Land Model 05 - Present Use Valuation CALCULATION EXAMPLE: The following simple example represents a parcel with 100 acres of owner occupied farmland which 75 acres are cleared and currently being cultivated. Fifteen acres are cleared but not suitable for cultivation and are used as pasture. Six acres are woodland and four acres are swampland. Qualifying Use Value Acreage 100.00 Market Value Per Acre 12,000 Total Market Value ($12,000 x 100) $1,200,000 75 acres suitable for cultivation (75 x 600) $45,000 15 acres not suitable for cultivation (15x 385) 5,775 6 acres woodland (6 x 295) 1,770 4 acres swampland (4 x 40) 160 Total Present Use Value $ 52,705 Total Market Value 1,200,000 Total Present Use Value ( 52,705) *Total Deferred Value $1,147,295 *No taxes are paid on this amount unless part of or the entire tract becomes disqualified. If a tract becomes disqualified for any reason the taxpayer must pay taxes and interest on the deferred value for the current year and the three prior years plus interest. Chapter 5 DATA COLLECTION PROCEDURES IN THE FIELD PREFACE The application of standardized method in the appraisal of a structure requires work to be performed in three areas: fieldwork, calculation and valuation. The purpose of this chapter is to supply basic definitions and depict common situations that must be contended with in the field. It is no longer required in North Carolina to physically. inspect each property when conducting a county wide revaluation project. Property is physically inspected when structures are first built and will be re- inspected when changes are made to the property such as; additions, deletion, remodeling, up fit, or changes in use. During the revaluation process certain properties or neighborhoods may require physical inspections to achieve the desired results. Cabarrus County uses modern technology and information, such as; orthophotography, oblique imagery, street level photographs, building permits and taxpayer listing, to further insure that our data stays current and accurate. Once the Notice of Assessed Value is sent to the property owner, the owner may request an onsite inspection.