September vote planned for revaluation standards
By Karen Eckert
Thursday, August 22, 2019
The Pitt County Board of Commissioners is set for a September vote on standards for the county's upcoming property revaluation after a public hearing drew no comments on Monday.
On Sept. 9 the board is scheduled vote on the approval of the 2020 Schedule of Standards, Values and Rules, which will be used in the reappraisal of real property countywide effective on Jan. 1, according to Sam Croom, Pitt County tax administrator.
Chip Main, deputy tax assessor, said the schedule will guide county appraisal staff in its valuation of all real estate for tax purposes. County and municipal taxes next year will be based on current market rates as determined by the schedule. Taxes currently are based on 2016 property values.
"It’s got all the standards, the definitions, the different types of valuations," Main said of the schedule. Pitt County revalues property every four years.
Monday's hearing was set to allow public comment on the schedule, but no one showed up to speak. The board closed the hearing with no discussion.
The Sept. 9 vote is the third and final step necessary to begin the revaluation. The first step was the distribution and explanation of the schedule by Croom and Main at the Aug. 5 board meeting and making the schedule available for public inspection — a copy of the large volume is available for public inspection at the tax assessor's office, 110 Evans St., and at the county manager's office, 1717 W. Fifth St. Monday's hearing was the second step.
Main said there are three possible approaches to appraisals.
"One approach is the market approach, (where) you look at comparable sales to determine what the value would be of your property. Another approach is the income approach. If it’s a commercial property you look at what buildings rent for and income that is provided by those buildings.
"And the cost approach which is basically what it costs to purchase the land and then what the cost of the construction of the building is. If you add those those two things together, then that’s the cost approach. Those are just examples of the standards and rules.”
Other action at Monday's meeting included:
■ Unanimous approval by the board of the July 2019 Tax Collection Report presented by Croom.
■ Recognition of Landon Allyn Stocks (Troop 200); Kennedy David Monroe (Troop 30) and Joesph McCarthy (Troop 30) for receiving their Eagle Scout rank.
■ A resolution of appreciation for employee Karen W. Ennis who was recognized for almost 32 years of service in the Pitt County Register of Deeds office.
■ Approval of the monthly financial report for the General Fund and Solid Waste Enterprise Fund presented by Brian Barnett, Pitt County deputy county manager/chief financial officer.
■ Approval of a budget amendment regarding Pitt County's employment of people with disabilities and a motion to reappoint Brad Guth to the Pitt County Planning Board.
■ Discussion of acquisition of real property in closed session.
The next board meeting will be held at 6 p.m. Sept. 9 in the Eugene James Auditorium on the second floor of the Pitt County Office Complex, 1717 W. Fifth St.