Agenda - 01-04-1988 - Laserfiche WebLink

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X43 in valuation on either piece of property and therefore cannot recommend to the Board that the valuations be con- sidered for amendment (G.S. 105-325 (a) (6) ) . Note: The Board of Commissioners have power through this statute, to amend appraisals upon recommendations submitted by the Tax Assessor, subject to the provisions in 105-325 (a) (6) (a) , (a) (6) (b) , (a) (6) (c) , and (a) (6) (d) . Basis of Determination: 1) Graham Property: Western side of Smith Level Road is valued at $87, 000 base value per acre; eastern side is valued at $29, 000 per acre. Since appraising is done on a tract rather than a zoning district basis, a "blended" total was determined for the entire tract, taking into account various land factors. The "blended" value of this tract of land is $44, 000 per acre. Ms. Bains has had the property appraised at $36, 000 per acre. However, the Tax Assessor states that the Tax Department's $44, 000/acre appraisal and Mrs. Bain's $36, 000/acre appraisal are within the realm of appraising reasonable difference (18 .2% or less than 10% high-10% low) . The Tax Assessor would not change this appraisal if he had the authority to do so and will not recommend it be changed by the Board. 2) Atwater Property: Normally the value of land - locked property is valued by the amount that would be required to "cure. " That is, an appraisal value of the cost to acquire the land necessary to provide access. However, the Tax Assessor has not been presented with evidence to satisfy him that this property is landlocked. The Estelle Atwater property is a parcel cut out of a larger parcel. The larger parcel abuts a public road. The Atwater parcel, therefore, by law, may be entitled to access across the larger parcel. While the Atwater parcel does not abut a public road, it does appear that an existing road, still passable, provides access to it. The adjoining property, owned by Cleveland Atwater, was sold in November, 1987 to a land developer for approximately $27, 000 per acre. The 3 .5 acre tract owned by Estelle Atwater is appraised by the Tax Assessor at approximately $16, 000 per acre. The assessed valuation assumes only one building site on the 3 . 5 acre tract. The Tax Assessor has no reason to believe and no evidence to support a contention that there is no building site on this tract. RECOMMENDATION(S) : Receive as information.