Laserfiche WebLink
96 <br /> <br />RESOLUTION <br /> <br />Resolution No. 1998-40 <br /> <br /> WHEREAS, Philip Morris and Cabarrus County recently reached agreement <br />as to the valuation of machinery, equipment and other business personal <br />property that Philip Morris owns in Cabarrus County; and <br /> WHEREAS, Philip Morris has now made a settlement offer concerning the <br />valuation of its real property in all pending appeals and for the year 1999; <br />and <br />WHEREAS, the pending appeals include the years 1994 through 1998; and <br />WHEREAS, a 1994 value and methodology has been established by the North <br />Carolina Property Tax Commission and affirmed by the North Carolina Court of <br />Appeals and is the basis for the real property values proposed by Philip <br />Morris as the following: <br /> 1994 - $335,686,000 <br /> 1995 $376,463,000 <br /> 1996 $379,739,000 <br /> 1997 - $392,842,000 <br /> 1998 - $401,580,000 <br /> 1999 - $425,625,000 <br /> WHEREAS, these values have been reviewed by the Assessor's Office, the <br />County Manager and the County's attorneys, and recommended for approval to <br />the Cabarrus County Board of Commissioners; and <br /> WHEREAS, the Board of Commissioners has also heard staff and legal <br />reports, and reviewed the calculations supporting these offers; and <br /> WHEREAS, it further appears to the Board that the values set forth <br />above constitute the true value of Philip Morris' real property, which is <br />under appeal. <br /> NOW, THEREFORE, BE IT RESOLVED by the Cabarrus County Board of <br />Commissioners that: <br /> 1. The values set forth above constitute the true value of Philip <br />Morris' real property for the years 1994 through 1999. <br /> 2. The County Manager and attorneys are authorized to prepare and to <br />sign documentation confirming the County's acceptance of these values and <br />dismissing the appeals filed by Philip Morris before the Property Tax <br />Commission and in the Supreme Court of North Carolina for the years 1994 <br />through 1998. <br /> 3. The Board of Commissioners understands'that the Assessor's office <br />plans to issue a real property value for 1999 in the amount set forth above, <br />and the Board agrees that such value is the true value of this parcel of real <br />property. <br /> 4. The County Manager and attorneys are authorized to take such <br />other steps as may be necessary to document and to effect the County's <br />acceptance of the above valuations of Philip Morris' real property. <br /> Adopted this the 30tn day of November, 1998. <br /> <br />ATTEST: <br />/s/ Frankie F. Bonds <br />Clerk to the Board <br /> <br />~s/ Sue B. CasDer <br />Chair, Board of County Commissioners <br /> <br /> Mr. Clifton recognized Attorneys David Terry and Charles Meeker who <br />represented the County in the Philip Morris litigation as well as County <br />Staff Members Blair Bennett, Bill Kouri and John Patterson and Mr. Terry <br />Rowland who is retired from the County. Chairman Casper expressed <br />appreciation to Mr. Clifton for his work as lead negotiator in resolving the <br />Philip Morris tax issue. <br /> <br /> For the record, Mr. Clifton stated some procedural steps would have to <br />occur before the actual settlement is paid. The County's attorneys will <br />represent the County before the Property Tax Commission and are working on an <br />agreed order and other legal documents. He also stated that Mr. Greg <br />Cummings, Local Plant Manager of Philip Morris, could not be present for the <br />meeting but wanted to extend his sincere appreciation for resolution of the <br />issue. <br /> <br />AdjourIunent <br /> <br /> UPON MOTION of Commissioner Niblock, seconded by Commissioner Carpenter <br />and unanimously carried, the meeting was adjourned at 8:25 P.M. <br /> <br /> Clerk to the Board <br /> <br /> <br />