cabarrus county board of commissioners regular meeting november ...

October 17, 2011 (Regular Meeting)Pagerate we would adjust other factors up to get to the samenumber.” It is interesting that the base rate was decreasedexactly $2.00 but for market reasons.Deborah Greer, resident of 28 Barbee Road SW in Concord, presented thefollowing comments on behalf of “We The People North Carolina” in oppositionto the adoption of the 2012 Schedule of Values:We The People North Carolina, Inc. speak in opposition tothe adoption of the 2012 Schedule of Values. Zillow.com isreporting the median house price is nearly $169,600.00 down, 8.2percent from a year ago and off nearly 30 percent from the top ofthe market in 2006. Breaking news. The housing market stillstinks. According to online real estate firm, Zillow.com, houseprices across the nation fell 3 percent in the first quarter ofthe year and were down 1 percent in March from February, the 57 thconsecutive monthly drop. The median house price is now$169,600.00, down 8.2 percent from a year ago and off nearly 30percent from the top of the market in 2006. In the category of“it can get worse”, Zillow anticipates that prices could slideanother 7 to 9 percent from this point and that the allusivebottom to the housing market will not come until 2012 at theearliest. House prices have declined from peak levels at theheight of the housing boom according to a range of measures.Prices are approaching trend levels from the 1990’s.Adjustedfor changes in mortgage interest rates and income growth, pricestabilization with its positive implications for reducingforeclosures will be a critical factor in the reduction ofunsoldinventories. The tax administration department hassuggested areduction in property values from the current $71.50 persquarefoot to a downward adjusted $68.00 per square foot whichrepresents a 16 percent decline e in the prevailing market.Considering the above excerpts from 2 different sources, a 16percent reduction is nowhere close to accuratelyreflecting the30 percent decline which has already beenexperienced and anadditional 7 to 9 percent decline which is projected to continueinto 2012. It is our position on that the additional dit reductions inthe per square foot price should be used and a newly revisedschedule of values begenerated for the 2012 propertyrevaluation. By doing this, the citizens of Cabarrus County willhave a much more accurate valuation of their property values asthey relate to the current real estate market situation. Inaddition, we are opposed to the acceptance of the 2012 Scheduleof Values as it relates to the increase in property tax from 63cents per hundred now, to aprojected 70.5 cents per hundredstarting in 2013. We were promised by this Board ofCommissioners sioners that if we voted to accept the one quarter centsales tax increase, thiswould not happen. Though, We The PeopleNorth Carolina stood asthe lone voice in opposing the sales tax,the small number ofcitizens who responded to the specialelection voted to authorize that sales tax as requested. Now asshown, just a few months ago in your projected 5-year budget, weare looking at the probability of an increase in the property taxrate. Because of the property values in Cabarrus County havingdeclined, there will be a decline or shortfall in the amount oftaxes received by the county because of these lower values. Wehave heard that by increasing the tax rate from 63 cents perhundred to 70.5 cents per hundred, the county will have arevenue.DRAFTRonnie Long, resident of 4140 Brownwood Lane in Concord and Presidentof “We The People”, read the following statement:“We The People NC Inc.”, would like to take thisopportunity to commend Our Board Of Commissioners for the standyou took last month when you rejected a Grant Proposal for theWinterization of Property here in Cabarrus County. We understandthat was a hard and in some people’s minds wrong decision.We The People NC believe that your decision was the rightone and also commend Commissioner Carruth for his furtherstatement that our community and our churches should step up andtake the lead for these types of projects. Even though we areall facing hard financial times and our financial abilities todonate have been diminished we can still donate our time, effortA-1Page 15