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E&R 1985-04-15 14 BOARD OF EQUALIZATION AND REVIEW MEETING - JUNE 4, 1984 (CONTINUED) ~ After a lengthy period of questions and answers by Attorney Butler and the Board, Chairman Gottovi asked if anyone present wished to comment. The following persons commented expressing strong opposition to the value place on their property. Mr. Harold Dobbins Mr. Van Reid Commissioner Blake asked Attorney Butler if he had considered having an independent appraiser to appraise the value of the properties in question stating this would be an unbiased opinion and would furnish him the fair market value. After discussion and comment, Commissioner O'Shie1ds MOVED, SECONDED by Commissioner O'Neal to uphold the 1984 values placed upon the Masonboro Sound properties by the Tax Department. Upon vote, the MOTION CARRIED as follows: Voting Aye: Commissioner Barfield Commissioner O'Neal Commissioner O'Shields Chairman Gottovi Voting Noe: Commissioner Blake Commissioner Blake requested that the record show that due to some unanswered questions, he had no choice but to vote noe. A transcript of the entire Public Hearing beginning April 16, 1984, through June 4, 1984, is on file in the Clerk's office. ADJOURNMENT Commissioner O'Neal MOVED, Barfield to adjourn the meeting. UNANIMOUSLY. SECONDED, Upon vote, by Commi s s ioner the MOTION CARRIED Chairman Gottovi adjourned the meeting at 9:50 o'clock P.M. ~~~ted. Lucie F. Smith, Clerk MINUTES OF 1985 BOARD OF EQUALIZATION AND REVIEW, APRIL 15, 1985 ASSEMBLY The New Hanover County Board of Commissioners met as the 1985 Board of Equalization and Review on April 15, 1985, at 10:35 o'clock a.m. in the Assembly Room, New Hanover County Administration Building, Wilmington, North Carolina. Clerk to the Board, Lucie F. Harrell, administered the Oath ~ 15 I of Office to the Board of Equalization and Review. A copy of the oath is on file in the Clerk's Office. The Clerk certified that Public Notice had been given of the 1985 Equalization and Review Board meeting with the purpose of the meeting to examine and review the tax list of the county for the current year. ELECTION OF CHAIRMAN The floor was opened for nominations for Chairman of the 1985 Board of Equalization and Review. Commissioner Dolan nominated Commissioner Retchin to serve as Chairman. Commissioner Barfield moved the nominations be closed. Commissioner Dolan MOVED, SECONDED by Commissioner Barfield to elect Commissioner Retchin as Chairman. Upon vote, the MOTION CARRIED UNANIMOUSLY. I Tax Administrator, Roland Register, stated the tax listing for 1985 had been completed as of April 9, 1985. He stated the tax base as of this date was $3.6 million dollars and expected to be $3.9 million with completion of the state appraisal. DEFERMENT OF PERSONAL PROPERTY EXEMPTION REQUEST BY WERTHEIMER BAG COMPANY AND MATERIAL BELONGING TO PPG INDUSTRIES AND UNION CARBIDE AT PAKTANK AND SOUTH ATLANTIC SERVICES Tax Administrator Register gave background information on the personal property exemption request by Wertheimer Bag Company and materials belonging to PPG Industries and Union Carbide at Paktank and South Atlantic Services. He requested deferment of any decision until the State reaches an opinion on clarification of the law. He stated the claims by the companies were justified but stressed the importance of deferment before granting the tax exemption until the law has been thoroughly defined. Chairman Retchin asked if anyone present wished to speak on this issue. The following person commented: Mr. Richard Morgan, Attorney representing Wertheimer Bag Company, commented on exemptions for the past 20 years stating no laws have changed since that date and requested consideration of the Board in granting this exemption. I After discussion, Commissioner O'Neal MOVED, SECONDED by Commissioner Dolan to defer action as requested by the Tax Administrator. Upon vote, the MOTION CARRIED UNANIMOUSLY. REQUEST FOR REDUCTION IN TAX APPRAISAL - DOVE MEADOWS APARTMENTS Mr. John Wessell, representing the owners of Dove Meadows property, appeared before the Board giving background information on the acquisition of the property. He stated at the time of purchase, the apartments were quite run down and that the County ~ 1.6 MINUTES OF THE 1985 BOARD OF EQUALIZATION AND REVIEW (CONTINUED) REQUEST BY DOVE MEADOWS APARTMENTS (CONTINUED) Tax> ,Office made a reduction in the appraised value of the property due to the condition of the apartments'. He stated in January 1985 the appraised value was increased to $5,648,000 requesting consideration of the Board for a 25% reduction in the appraised value for a period of two years extending from January 1, 1985, until December 31, 1986. He stated since this is a new project and that the rehabilitation is not completed with the uni ts partially rented, consideration should be given to a reduction of the appraisal during the start-up period. Appraisal Supervisor Bethune commented on using the potential income of the property and not the occupancy rate when computing an income statment for appraisal purposes. Commissioner Barfield stated that developers should build this risk factor into the cost estimate at the beginning of the project. After discussion, Commissioner Barfield MOVED, Commissioner Dolan to deny the request. Upon vote, CARRIED UNANIMOUSLY. SECONDED by the MOTION RECESS OF MEETING Chairman Retchin recessed the meeting at 10: 58 o'clock a.m. until 11:55 o'clock a.m. at whi~h'time the meeting -is' to be reconvened for any persons wishing to appear before the Equalization and Review Board. MEETING RECONVENED Chairman Retchin reconvened the meeting at 11:56 o'clock a.m. asking if anyone present wished to appear before the Equalization and Review Board. No one came forward. ADJOURNMENT Commissioner Barfield MOVED, SECONDED by Commissioner O'Shie1ds to adjourn the meeting. Upon vote, the MOTION CARRIED UNANIMOUSLY. Chairman Retchin adjourned the meeting at 12:00 o'clock noon. og;:C~~d. Lucie F. Harrell Clerk ........;.,"