2. REAPPRAISAL IN TODAY’S MARKET Where do the values come from?

3. Some may think…… But no…. The Real Key is ……..

4. DATA, DATA, DATA!!!! MARKETCOST INCOME

5. MARKET CHALLENGE IN TODAY’S ECONOMY FINANCIALLY DISTRESSED SALES – NOT CONSIDERED QUALIFIED SALES  HOW DAMAGED ARE THE PROPERTIES  LOWERS THE QUALIFIED SALES – WHEN A “SUBSTANTIAL MAJORITY OF THE MARKET” IS DISTRESSED SALES  USE LISTINGS “BENCHMARKS”  USE SIMILAR SUBDIVISIONS

6. MARKET DATA DEED RECORDINGS SALES LETTERS COST LETTERS INCOME LETTERS APPRAISERS BROKERS BANKERS DEVELOPERS MLS LOOPNET LOCAL WEB SITES 1.LAND VALUE 2.STRUCTURE VALUE SOURCES:

7. SALES LETTER FRONT BACK

9. LoopNet

10. Cabarrus County Economic Development

11. COST DATA MARSHAL & SWIFTLOCAL BUILDERSCONSTRUCTION COST LETTERS

12. Marshall & Swift Cost Estimates

14. INCOME DATA LOOPNET INCOME/EXPENSE LETTERS TO PROPERTY OWNERS PROPERTY MANAGEMENT COMPANIES BROKERS

16. Income / Expense Letters

17. DATA, DATA, DATA MARKET COST INCOME SCHEDULE OF VALUES

18. Cabarrus County 2012 Revaluation

19. CABARRUS COUNTY 2012 APPRAISAL FACTORS IMPROVEMENTSLAND BASE RATEBASE RATE MARKET FACTORLOT VALUE (15% VS 25%) EFFECTIVE AGESIZE FACTORS RECLASSIFY TYPESPUV-

20. SCHEDULE OF VALUES IMPROVEMENTS BASE RATE Use Base Rate 2008 Base Rate 2012 M & S 2012DESCRIPTION 1$71$68$78Single Family Residential 01E$130$120$170Single Family Exceptional 10$64$68$74Commercial 40$56 $64Industrial

21. MARKET AND QUALITY FACTORS 2008 2012

25. SCHEDULE OF VALUES LAND

28. PUV- INCREASE

29. PUV 2008

30. PUV 2012

31. Final Results

35. Sales Ratio Homes built in 2011 and sold in 2011 Number of Sales 293 Median Ratio98.136% COD 4.129% All Parcels sold in 2011 Number of Sales 1,129 Median Ratio97.667% COD 3.492%

37. County Wide Value Change 2011 Value$19,448,839,388 2012 Value$16,792,282,758 Percent of Change -13.659%