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601 The Board of Commissioners for the County of Cabarrus met in recessed session in the Multipurpose Room at the Cabarrus County Governmental Center in Concord, North Carolina on Thursday, June 4, 1998, at 6:00 P.M. Present - Chairman: Sue Casper Vice-Chairman: Carolyn B. Carpenter Commissioners: Jeffrey L. Barnhart Dr. Franklin C. Niblock, Jr. Absent - Commissioner: Kenneth Mills Also present were Mr. Frank W. Clifton, Jr.; Mr. Fletcher L. Hartsell, Jr., County Attorney; Mr. John Day, Deputy County Manager for Operations; Mr. Don Moorhead, Human Resources Director; Ms. Cathie Keller-Straub, Budget Officer; and Mrs. Frankie F. Bonds, Clerk to the Board. Chairman Casper called the meeting to order at 6:00 P.M. Approval of the AKenda Chairman Casper asked that discussion of the Tax Administrator position be added to the agenda. UPON MOTION of Commissioner Niblock, seconded by Commissioner Carpenter and unanimously carried, the Board added discussion of the Tax Administrator position to the agenda. The Board voted to approve the agenda as amended. Schedules of Values for the 1999 Revaluation Mr. John Patterson, Revaluation Supervisor, gave a brief overview of the proposed Schedules of Values for the 1999 Revaluation. Chairman Casper opened the public hearing on the proposed uniform Schedules of Values, Standards and Rules for the 1999 Revaluation and asked if anyone wished to address the Board regarding the proposed Schedules. The Board acknowledged receipt of the following letters. June 3, 1998 VIA FACSIMILE AND U.S. MAIL Cabarrus County Board of Commissioners Cabarrus County Government Center 65 Church Street, SE Box 707 Concord, North Carolina 28025 Dear Sirs: We represent Philip Morris U.S.A., the owner of a large cigarette manufacturing facility in Cabarrus County, North Carolina. We understand that on June 4, 1998 the Cabarrus County Board of Commissioners will consider the proposed 1999 Schedule of Values submitted to it by the Cabarrus County Assessor. We have just received a copy of the proposed 1999 Schedule of Values, which we requested several weeks ago, and so have not had an opportunity to fully review it. Nevertheless, it appears to us that the proposed 1999 Schedule of Values, if applied to the real property of Philip Morris U.S.A., will result in an assessment of its real property far in excess of true value. Without limiting our objections or waiving the right to raise future objections to the proposed 1999 Schedule of Values, we point out the following: (a) The base rate for "cigarette manufacturing" has been raised from $60.00 in the 1995 Schedule of Values to $150.00 in the proposed 1999 Schedule of Values, a rate far in excess of any other manufacturing base rate in Cabarrus County. (b) The depreciation schedules for cigarette manufacturing provide for an effective age which is too long and for inadequate amounts of depreciation, particularly in the early years of the plant's life. In addition, the depreciation schedules do not take into account adequate amounts for functional and economic obsolescence associated with the Philip Morris cigarette manufacturing facility, the only cigarette manufacturing facility in Cabarrus County.