November 25, 2024 Special Call Meeting The Martin County Board ofCommissioners met for a Special Called Meeting on November 25, 2024 regarding Open Session matters at 5:00 p.m. in the Commissioners Boardroom, Martin County Governmental Center, 305 East Main Street, Williamston, N.C. Those attending the meeting were Chairman Dempsey Bond Jr., Vice Chair Emily Commissioner Biggs, Joe R. Ayers, Commissioner Ronnie Smith, Commissioner David "Skip" Gurganus, Interim County Manager / County Attorney Benjamin R. Eisner, Clerk to the Board Julia Rease, Finance Officer Angela Raynor, and Human Resources Director Donna Zube. Others in Attendance: Mayor of Bear Grass Charlotte Griffin Chairman Bond Jr. called the meeting to order at 5:00 p.m. Vice Chair Biggs led the Pledge of Allegiance. Commissioner Gurganus provided the invocation. Chairman Bond Jr. extended a welcome to all attending. Interim County Manager introduced staff attending the meeting from Piner Appraisals. AGENDA APPROVAL Commissioner Smith made a Motion to Approve the agenda, with a Second from Commissioner Gurganus. The Motion was Carried unanimously. (5-0) NEW BUSINESS 2025 County Revaluation = Presentation of Schedule of Values Piner Appraisal staffMr. Gary Piner, Mr. Gene Roundtree, and Mr. Paul Christianson attended the meeting to discuss the schedule of values. The schedule of values manual was passed out to all Board members. Mr. Gary Piner reported that the manual included rules, guidelines, square footage rates, land rates etc, used for evaluation tax purposes. The Department of Revenue reportedly mandated that counties conduct a revaluation at least every 8 years, with January being the eighth year for Martin County. The Department of Revenue (NCDOR) also mandated that counties must value the properties at current market value as of the effective date of the revaluation. Mr. Piner acknowledged that the market had some anomalies in the past years and it was seen in revaluations conducted by Piner Appraisals during that time. Mr. Piner stated that Mr. Paul Christianson would show the Board some sales compared to the assessed values from eight years ago and that Mr. Gene Roundtree would discuss a few points from the schedule of values. Mr. Gene Roundtree - Revaluation Process Mr. Gene Roundtree discussed a timeline that was passed out to the Board and explained it. Mr. Round tree stated that the manual was presented to the Board first for review, and Piner Appraisals would return to attend the public hearing. Mr. Roundtree stated that the public hearing would need to be advertised based on statutory guidance and that the schedule of values were already posted on the Martin County website. The approval of the schedule ofvalues would occur at least 7 days after the public hearing. After adoption, the schedule ofvalues would be advertised four times and there would be an appeal period, wherein the public could file an appeal regarding the schedule. Mr. Roundtree reiterated that the revaluation was statutorily required to take place at least every eight years. The purpose oft the revaluations was to bring everything up to market value. Mr. Roundtree stated that Piner Appraisals conducted mass appraisals and not fee appraisal. Mass appraisals were conducted by sending field staff to look at properties and then send information back to insert into a system. The results oft the values would then be reviewed and ratio studies are conducted on the neighborhoods. Mark County was found to have about 48 different neighborhoods. There were twenty two communities found in the Town ofWilliamston alone. Mr. Roundtree discussed the influence ofs surrounding counties on the towns in Martin County. There were three ways to approach the values, which were: The market approach The cost approach The income approach. Most mass appraisals reportedly utilized the cost manuals and or schedules, which was backed up by the sales approach. Mr. Roundtree reported that Piner Appraisals initially reviewed the sales from 2024 sales and would review the last three years (2023, 2024, and 2025). There were have different schedules in the manual, such as the residential, commercial, industrial sections, which had different factors. Land revaluations could be conducted in three ways; Per acre, Per front foot, and Per square foot. Mr. Roundtree gave examples of how the facts listed above could affect the tax value ofland. The housing appreciation schedules were listed and were categorized as residential houses, commercial properties, and manufactured homes. Piner Appraisals reportedly used guidance from the general statutes, proposer procedures, and Uniform Standards of Professional Appraisal Practice (USPAP), "Standard 7". The Board was asked to turn to page 178 of the manual to review that showed a map of North Carolina. Mr. Roundtree stated that this section of the manual referred to the Present Use Value and farm land. Mr. Roundtree mentioned that some people could apply for a tax exemption by completing an application and turn it into the Tax Assessor's Office. Martin County was found to be a Major Land Resource Areas. In the map, it was noted that Martin County was in the Lower Coastal Plain. In that schedule, the schedule of the values of the land was based on soil types. The soil types and that particular schedule was listed on page 181 ofthe manual and Mr. Roundtree explained that soil studies had been conducted a long time ago by the State. The forestland values on page 183 ofthe manual, listed all five classes of values. It was reported that there was an increase of about 10 percent since the last value of schedules that occurred eight years ago. Mr. Roundtree asked Mr. Paul Christianson to discuss the residential properties within housing. Mr. Paul Christianson - Residential Properties ofHousing Mr. Christianson passed out the eight basic sales of residences across the County, which was standard compared to other counties. The sales in Martin County did have an increase, but not comparable to other Counties that had more of an increase. In looking at sales, Martin County did not have as many sales as other Counties, but Martin County sales were not as cheap as other counties. Mr. Christianson stated that he read that 340,000 new people moved into North Carolina, who needed somewhere to live, and would pay way more for what a house was really worth to have somewhere to live. This instance had an impact of values, wherein rent was increasing in Martin County, even with manufactured homes. Mr. Christianson stated that sales estimate was close to 40 %, Interest rates did not seem to cause a major effect, but slowed sales down a bit. There was a uniqueness about Martin County compared to surrounding counties. Martin County reportedly had two new subdivisions that were still on the market in the Town of Robersonville. Mr. Christianson stated that if there were a higher end of Martin County, it would be in the areas ofMartin County bordering Pitt County. Mr. Christianson discussed some factors that caused issues in trying to find a home such as heirs of properties selling family property(s) after their parents/guardians pass away. Martin County was stated to have a cottage industry with flips. In addition, Martin County had a group of people who would send out letters stating that they would pay cash for homes and flip them. The ranch style brick houses were reportedly selling the most and the County had many of them. It was stated that the fieldwork had been conducted and completed and once the input was submitted, Piner Appraisals could conduct self-ratio studies. Mr. Christianson reported tinding some anomalies in Martin County sales for this year. There was a sale of$81,000,000.00 residential sale, but it was really $81,000.00. There was another sale for 5127,500,000.00 that was actually $255,000.00. In addition, there was a sale for $ 37,500,000.00 that was really $65,000.00. The staff in the Tax Assessors Office that had access to the system were no longer employed, but Mr. Christianson corrected the anomalies. Mr. Christianson stated that if there were any additional anomalies, he would correct them as well. The total amount of just these three anomalies equaled to $241,000,000.00 and would reportedly throw off the sales ratio. Chairman Bond Jr. asked if there were any questions and or comments. Commissioner Gurganus asked ifl Piner Appraisals had a percentage ofwhere the County was and where the County would be this year. Mr. Piner stated that there was no definitive answer, but the overall ratio was around 60 and the goal was to reach around 100 percent market value. There was a 10 percent grace amount above and below the 100 percent goal. Commissioner Ayers asked ifi it was correct that there would be a 50 percent - 60 percent increase in and asked ifl Piner Appraisals addressed commercial properties. Mr. Piner stated that this was correct and Piner Appraisals had not addressed commercial properties as ofyet. It was stated that the simple cost to build was up in numbers and would factor into all of the schedules more than anything else would. Commissioner Ayers asked if Mr. Piner would estimate a 50 percent to 60 percent increase on commercial properties. Mr. Piner responded that commercial properties were not usually as much residential properties. Commissioner Smith asked how Piner Approval thought about farmers that had old equipment on their property to use for parts Mr. Piner responded that equipment was personal property, which was different from revaluation. Mr. Piner stated that there was a depreciation guide sent out from the NC Department of Revenue, but most assessors don't put the old equipment on the books or the equipment would be assessed at 10 percent. Dates for the public hearing were discussed as well as other dates to hold meetings based off a timeline given to the Board from Piner Appraisals. The public hearing for the schedule of values was set for December 16, 2024 at 5:00 p.m. in the Commissioners Boardroom. Adjournment: At 7:18 p.m., Commissioner Smith made the Motion to Adjourn the meeting, with a Second by Commissioner Gurganus. The motion was Carried unanimously (5-0). Sa/Blg Dempsey Bond Jr., Chairman Martin County Board of Commissioners laskis bs. Becsc Julia S. Rease Clerk to the Board