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January 6, 2003 Page 5 <br /> <br /> Ms. Dawn McHale, Tax Administrator, responded to questions regarding <br />the taxation software. She pointed out that the taxation software issue is <br />independent of the revaluation that is currently in process in Cabarrus <br />County. According to Ms. McHale, the County will need to enter into a <br />contract for the new software by December 2005. <br /> <br /> The Board by consensus agreed not to spend allocated funds to purchase <br />new property taxation software this year. <br /> <br />REVALUATION STATUS REPORT <br /> <br /> Ms. McHale gave a PowerPoint presentation on the property reappraisals <br />being done in Cabarrus County. She addressed a number of issues in her <br />presentation, including the purpose of the reappraisals, the market value <br />standard, the method of conducting the reappraisal, qualified sales, <br />stratification, the three approaches (cost, income and sales comparison) to <br />value, the notification process, appeals process and the timeline for <br />completing the reappraisal process. Mr. Rick Johnson, Revaluation Supervisor, <br />assisted with the presentation. <br /> <br />RECESS OF MEETING <br /> <br /> Chairman Freeman recessed the meeting at 9:35 p.m. until 6:00 p.m. on <br />Tuesday, January 7, 2003, in the Multipurpose Room at the Governmental <br />Center. <br /> <br />Clerk to the Board <br /> <br /> <br />