2022

Real Property Appraisal Manual

 TABLE OF CONTENTS

INTRODUCTION 4- 8
APPLICABLE NC GENERAL STATUTES 9 - 19
THE APPRAISAL PROCESS 20 - 27
THE PROPERTY RECORD CARD 28 - 42
RESIDENTIAL AND COMMERCIAL DATA CODES 43 - 55
SUMMARY OF APPRAISAL PROCESS 56
DESCRIPTIVE GUIDELINES: REAL/PERSONAL 57 - 61
STRUCTURE CLASSIFICATION 62
GRADE OF CLASSIFIED STRUCTURE 63 - 77
DEFINTIONS OF CONSTRUCTION CLASS 78 - 80
STRUCTURAL DEFINITIONS 81 - 91
COST SCHEDULES – RESIDENTIAL 92 - 96
COST SCHEDULES – COMMERCIAL 97 – 101
COMMERCIAL INCOME AND EXPENSE SCHEDULES 102 - 103
DEPRECIATION (CDU) FACTOR TABLES 104 – 106
OTHER BUILDINGS AND YARD ITEMS (OBY) 107
OUTBUILDING COST SCHEDULES 108 -112
LAND VALUATION 113 - 116
LAND DEFINITIONS 117 - 119
LAND SCHEDULES 120 - 124
ACREAGE FACTOR TABLE 125
PRESENT LAND USE VALUATION 126 - 128
HOMEOWNERS ASSOCIATIONS 129
ARCHITECTUAL TERMS 130 - 138
REAL ESTATE APPRAISAL TERMS 139 - 150
STATISTICAL TERMS 151 - 153

3
 INTRODUCTION

Reason for a Revaluation

Onslow County (like all other counties in the State of North Carolina) faces the continuous
and challenging task of determining equitable assessment of properties, which are subject
to Ad Valorem (at value) taxes within its jurisdiction. Those properties, subject to the Ad
Valorem tax, may be generally considered in two categories, namely Real Property and
Personal Property. The applicable statutes of our State generally require the assessment of
real property in accordance with an “Octennial Plan” for revaluation.

The obvious necessity for the periodic reassessment of taxable property is the practical and
legal requirements for taxation at a fair basis. Article Five of our State’s Constitution
prohibits unfair taxation by local jurisdictions, while providing authority for the locally
administered Ad Valorem tax.

The economic principle of change has constant effects (although not identical) upon the
properties which are subject to Ad Valorem taxation. These effects of change such as
inflation, appreciation, depreciation, deterioration, destruction, improvement, and so forth,
must be frequently recognized in order to facilitate equitable assessments. While numerous
examples of such change may come to mind, a sufficient illustration might involve two
residential properties, purchased by different taxpayers on the same day and year, at the
same purchase price. A subsequent sale of both properties at different prices reflects an
increase in value of one of the properties at a significant margin above the other (because
of change) which if not properly recognized could result in an unfair assessment of both
properties.

The General Statues of North Carolina pertaining to the assessment and administration of
the property tax (“The Machinery Act of North Carolina”, Subchapter II of Chapter 105 of
the General Statutes of North Carolina), govern the manner in which the effect of change
may be noted. The annual value determination for personal property and the “Octennial
Plan” requires revaluation at least once every eight years, but also permits more frequent
general reappraisal when deemed necessary to maintain equitable assessments. By
resolution, the Onslow County Board of Commissioners has adopted a four-year
revaluation cycle, in order to recognize changes in the economy and real estate market on
a more frequent basis than the octennial plan, thus providing a fair and equitable tax system
for Onslow County residents and property owners.

4
Purpose of the Manual

In accordance with the provisions of N. C. G. S. 105-317, there is herein developed and

compiled uniform schedule of values, standards, and rules to be used in appraising real
property in Onslow County.

In development of the following schedules, the greatest reliance was upon value
determinants evident in the Onslow County real estate market. Among the many factors
considered were recent transfers of properties (both improved and vacant parcels) cost
information from local contractors, builders, material supplies, etc.: market indicators from
local farms, appraisers, brokers, bankers, and savings and loan representatives, and other
informed sources.

With the manual developed and compiled, its use is twofold: (1) by the County Tax
Assessor and/or his staff in the appraisal of real property in the County: and (2) to enable
taxpayers to determine and understand the methods, rules, and standards by which their
property is appraised.

It is emphasized that the schedule of values reflected in this manual are intended to serve
only as guidelines for the appraisals thereby determined, with the statutory requirement of
“True Value” as identified in N. C. G. S. 105-283 being the objective of each appraisal.

5
 Scope of Manual

This manual, together with the schedule of values reflected herein, is to serve as the basis
for appraisal of all types of real property in Onslow County during the current revaluation.
The different types of property anticipated to be appraised include, but is not limited to,
the following:

• Vacant Lots: Residential, Commercial, Rural, etc.

• Vacant Land (Acreage Tracts): Commercial Industrial, Agricultural,

Forestland, other vacant tracts.

• Improved Land: All Types.

• Residential Improvements: All Types

• Farm Buildings and Improvements: All Types

• Commercial Improvements:

Multi-Family Residential Buildings, Motels, Hotels, Retail Business

Improvements, Office Buildings, Banks, Stores, Service Establishment
Facilities, and all other improvements generally associated with
commercial uses.

• Industrial Properties:

Manufacturing Plants, Storage and Warehousing Facilities, and all other

improvements including site improvements generally associated with
industrial uses.

• Special Purpose Properties:

Although many special purpose properties such as schools, churches,

etc., are exempt from Ad Valorem taxation, the County is required to
maintain a value record for these properties. Other special purpose
properties include those not readily adaptable for use other than that for
which they were built.

6
Valuation

All properties are to be valued in accordance with the adopted Cost Schedule
for that classification of property. The Schedule of Values included with this
report has been adopted in compliance with the pertinent provisions of the
Machinery Act of North Carolina, and said statutes are incorporated herein
by reference. It is again emphasized that the Schedule of Values in this
manual are intended to serve only as guidelines for the appraisals thereby
determined, with the statutory requirement of “true value”, as identified in
N. C. G. S. 105 – 283 being the objective of each appraisal.

Appraisal Standards

NC General Statutes require that county assessors and appraisers obtain

certification by the NC Department of Revenue and maintain the certification
by completing additional courses of instruction as specified in the Machinery
Act. Many of the appraisal courses are IAAO (International Association of
Assessing Officers) Courses. IAAO training includes specific guidelines to
insure fair and equitable mass appraisals, including various statistical tests.
This process provides for accuracy as measured in both assessment level and
uniformity. In addition to IAAO guidelines, USPAP Standard 6: Mass
Appraisal, Development and Reporting provides detailed standards which
are incorporated into the mass appraisal process and product. USPAP
Standard 6 is hereby incorporated by reference as a part of this Real Property
Appraisal Manual.

Incorporated by Reference

The Craftsman National Building Cost Manual serves as reference for compilation
of the Schedules and is herein incorporated by reference. Additional reference
documents incorporated by reference into the 2022 Schedule of Values for Onslow
County are available as follows:

1. North Carolina General Statutes, "The Machinery Act":

http://www.ncga.state.nc.us/gascripts/statutes/statutelookup.pl?statute=105 or, in pdf
format:
http://www.ncga.state.nc.us/EnactedLegislation/Statutes/PDF/ByChapter/Chapter_
105.pdf

2. IAAO Standard on Mass Appraisal of Real Property

https://www.iaao.org/media/standards/StandardOnMassAppraisal.pdf

3. Uniform Standards for the Professional Appraisal Practice, Standard 6

http://www.uspap.org/#/67/zoomed

7
4. Property Tax Use-Value Manual for Agricultural, Horticultural and Forest Land
http://www.dornc.com/publications/property.html
Under the Real Property section, select "Use Value Manual for Agricultural,
Horticultural, and Forest Land", then select "2022".

5. Onslow County Tax Office, Appraisal Division-Standard Operating Procedure

(Available for review and inspection in the Onslow County Tax Office, Appraisal
Division)

8
 APPLICABLE STATUTES

The following General Statutes are among those most directly associated with the appraisal
and revaluation of real property. (For additional reference see the “Machinery Act” of
North Carolina).

G. S. 105 – 283. Uniform Appraisal Standards:

All property, real and personal, shall as far as practicable be appraised or valued at its true
value in money. When used in this subchapter, the words “true value” shall be interpreted
as meaning market value, that is, the price estimated in terms of money at which the
property would change hands between a willing and financially able buyer and a willing
seller, neither being under any compulsion to buy or sell and both having reasonable
knowledge of all the uses to which the property is adapted and for which it is capable of
being used. For the purposes of this section, the acquisition of an interest in land by an
entity having the power of eminent domain with respect to the interest acquired shall not
be considered competent evidence of the true value in money of comparable land.

The following are footnotes following 105-283 in the machinery act book:

Determination by General Assembly – The North Carolina General Assembly, and

no one else, determines how property in this State should be valued for purposes of
Ad Valorem taxation.

In substance, this section and 105 – 317.1 provide that all property shall be appraised
at market value, and that all the various factors which affect the market value of
property are to be considered by the Assessors in determining the market value for
tax purposes.

There may be reasonable variations from market value in appraisals of property for
tax purposes if these variations are uniform.

Use of “Book Value” - There is no statutory authority that permits the County
Tax Assessor, as a per se rule, to equate “book value” with true value in money as a
uniform measure of assessment for purposes of Ad Valorem tax valuation.

Taxation to be in Proportion to True Value of Property - The purpose of the

statutory requirement that all property be appraised at its true value in money is to
assure, as far as practicable, a distribution of the burden of taxation in proportion to
the true values of the respective taxpayer’s property holdings, whether they be rural
or urban.

The fundamental rule of valuation is actual market or fair cash value.

9
 There is no distinction between owners of real and personal property to their right to
insist upon equality of valuation or as to their standing to pursue the remedies
provided in the Machinery Act for error in the valuation of properties.

Ad Valorem tax assessments are presumed to be correct, and when such assessments
are challenged, the burden of proof is on the taxpayer to show that the assessment
was erroneous.

Economic Blight of Downtown to be Considered in Revaluation - The policy of

equality in valuations compels the Assessors and, upon an appeal, The State Board
of Assessment (now Property Tax Commission) to take economic blight of a
downtown area into account when revaluing property for tax purposes.

G. S. 105 – 284. Uniform Assessment Standard

(a) Except as otherwise provided in this section, all property, real and personal, shall
be assessed for taxation at its true value or use value as determined under G.S. 105-283 or
G.S. 105-277.6, and taxes levied by all counties and municipalities shall be levied uniformly
on assessments determined in accordance with this section.
(b) The assessed value of public service company system property subject to
appraisal by the Department of Revenue under G.S. 105-335(b)(1) shall be determined by
applying to the allocation of such value to each county a percentage to be established by the
Department of Revenue. The percentage to be applied shall be either:
(1) The median ratio established in sales assessment ratio studies of real
property conducted by the Department of Revenue in the county in the year the county
conducts a reappraisal of real property and in the fourth and seventh years thereafter; or
(2) A weighted average percentage based on the median ratio for real property
established by the Department of Revenue as provided in subdivision (1) and a one
hundred percent (100%) ratio for personal property. No percentage shall be applied in a
year in which the median ratio for real property is ninety percent (90%) or greater.
If the median ratio for real property in any county is below ninety percent (90%) and if
the county assessor has provided information satisfactory to the Department of Revenue
that the county follows accepted guidelines and practices in the assessment of business
personal property, the weighted average percentage shall be applied to public service
company property. In calculating the weighted average percentage, the Department shall
use the assessed value figures for real and personal property reported by the county to the
Local Government Commission for the preceding year. In any county which fails to
demonstrate that it follows accepted guidelines and practices, the percentage to be applied
shall be the median ratio for real property. The percentage established in a year in which a
sales assessment ratio study is conducted shall continue to be applied until another study is
conducted by the Department of Revenue.
(c) Notice of the median ratio and the percentage to be applied for each county shall
be given by the Department of Revenue to the chairman of the board of commissioners not
later than April 15 of the year for which it is to be effective. Notice shall also be given at
the same time to the public service companies whose property values are subject to
adjustment under this section. Either the county or an affected public service company may

10
 challenge the real property ratio or the percentage established by the Department of Revenue
by giving notice of exception within 30 days after the mailing of the Department's notice.
Upon receipt of such notice of exception, the Department shall arrange a conference with
the challenging party or parties to review the matter. Following the conference, the
Department shall notify the challenging party or parties of its final determination in the
matter. Either party may appeal the Department's determination to the Property Tax
Commission by giving notice of appeal within 30 days after the mailing of the Department's
decision.
(d) Property that is in a development financing district and that is subject to an
agreement entered into pursuant to G.S. 159-108 shall be assessed at its true value or at the
minimum value set out in the agreement, whichever is greater.

G. S. 105-285. Date as of which property is to be listed and appraised.

(a) Annual Listing Required. - All property subject to ad valorem taxation shall be
listed annually.
(b) Personal Property; General Rule. - Except as otherwise provided in this Chapter,
the value, ownership, and place of taxation of personal property, both tangible and
intangible, shall be determined annually as of January 1.
(c) Repealed by Session Laws 1987, c. 813, s. 12.
(d) Real Property. - The value of real property shall be determined as of January 1
of the years prescribed by G.S. 105-286 and G.S. 105-287. The ownership of real property
shall be determined annually as of January 1, except in the following situation: When any
real property is acquired after January 1, but prior to July 1, and the property was not subject
to taxation on January 1 on account of its exempt status, it shall be listed for taxation by the
transferee as of the date of acquisition and shall be appraised in accordance with its true
value as of January 1 preceding the date of acquisition; and the property shall be taxed for
the fiscal year of the taxing unit beginning on July 1 of the year in which it is acquired. The
person in whose name such property is listed shall have the right to appeal the listing,
appraisal, and assessment of the property in the same manner as that provided for listings
made as of January 1.
In the event real property exempt as of January 1 is, prior to July 1, acquired from a
governmental unit that by contract is making payments in lieu of taxes to the taxing unit for
the fiscal period beginning July 1 of the year in which the property is acquired, the tax on
such property for the fiscal period beginning on July 1 immediately following acquisition
shall be one half of the amount of the tax that would have been imposed if the property had
been listed for taxation as of January 1.

G. S. 105 – 286. Time for General Reappraisal of Real Property

(a) Octennial Plan – Unless the date shall be advanced as provided in subdivision
(a) (2), below, each County of the State, as of January 1 of the year prescribed
in the schedules set out in subdivision (a) (1), below, and every eighth year
thereafter, shall reappraise all real property in accordance with the provisions
of G. S. 105 – 283 and 105 – 317.

11
 (1) Schedule of Initial Reappraisals

Division five - ONSLOW COUNTY

(2) Mandatory Advancement. – A county whose population is 75,000 or greater

according to the most recent annual population estimates certified to the
Secretary by the State Budget Officer must conduct a reappraisal of real
property when the county's sales assessment ratio determined under G.S.
105-289(h) is less than .85 or greater than 1.15, as indicated on the notice the
county receives under G.S. 105-284. A reappraisal required under this
subdivision must become effective no later than January 1 of the earlier of the
following years:
a. The third year following the year the county received the notice.
b. The eighth year following the year of the county's last reappraisal.
(3) Optional Advancement. – A county may conduct a reappraisal of real property
earlier than required by subdivision (1) or (2) of this subsection if the board of
county commissioners adopts a resolution providing for advancement of the
reappraisal. The resolution must designate the effective date of the advanced
reappraisal and may designate a new reappraisal cycle that is more frequent
than the octennial cycle set in subdivision (1) of this subsection. The board of
county commissioners must promptly forward a copy of the resolution adopted
under this subdivision to the Department of Revenue. A more frequent
reappraisal cycle designated in a resolution adopted under this subdivision
continues in effect after a mandatory reappraisal required under subdivision (2)
of this subsection unless the board of county commissioners adopts another
resolution that designates a different date for the county's next reappraisal.

(b), (c) Repealed by Session Laws 2008-146, s. 1.1, effective July 1, 2009.

G. S. 105-287. Changing appraised value of real property in years in which general reappraisal is
not made.
(a) In a year in which a general reappraisal of real property in the county is not made
under G.S. 105-286, the property shall be listed at the value assigned when last appraised
unless the value is changed in accordance with this section. The assessor shall increase or
decrease the appraised value of real property, as determined under G.S. 105-286, to
recognize a change in the property's value resulting from one or more of the following
reasons:
(1) Correct a clerical or mathematical error.
(2) Correct an appraisal error resulting from a misapplication of the schedules,
standards, and rules used in the county's most recent general reappraisal.
(2a) Recognize an increase or decrease in the value of the property resulting
from a conservation or preservation agreement subject to Article 4 of Chapter 121 of the
General Statutes, the Conservation and Historic Preservation Agreements Act.

12
 (2b) Recognize an increase or decrease in the value of the property resulting
from a physical change to the land or to the improvements on the land, other than a change
listed in subsection (b) of this section.
(2c) Recognize an increase or decrease in the value of the property resulting
from a change in the legally permitted use of the property.
(3) Recognize an increase or decrease in the value of the property resulting
from a factor other than one listed in subsection (b).
(b) In a year in which a general reappraisal of real property in the county is not
made, the assessor may not increase or decrease the appraised value of real property,
as determined under G.S. 105-286, to recognize a change in value caused by:
(1) Normal, physical depreciation of improvements;
(2) Inflation, deflation, or other economic changes affecting the county
in general; or
(3) Betterments to the property made by:
a. Repainting buildings or other structures;
b. Terracing or other methods of soil conservation;
c. Landscape gardening;
d. Protecting forests against fire; or
e. Impounding water on marshland for non-commercial
purposes to preserve or enhance the natural habitat of
wildlife.
(c) An increase or decrease in the appraised value of real property authorized by
this section shall be made in accordance with the schedules, standards, and rules used
in the county's most recent general reappraisal. An increase or decrease in appraised
value made under this section is effective as of January 1 of the year in which it is made
and is not retroactive. The reason for an increase or decrease in appraised value made
under this section need not be under the control of or at the request of the owner of the
affected property. This section does not modify or restrict the provisions of G.S. 105-
312 concerning the appraisal of discovered property.
(d) Notwithstanding subsection (a), if a tract of land has been subdivided into lots
and more than five acres of the tract remain unsold by the owner of the tract, the
assessor may appraise the unsold portion as land acreage rather than as lots. A tract is
considered subdivided into lots when the lots are located on streets laid out and open
for travel and the lots have been sold or offered for sale as lots since the last appraisal
of the property.

G. S. 105-294. County assessor.

(a) Appointment. - Persons occupying the position of county assessor on July 1,
1983, shall continue in office until the first Monday in July, 1983. At its first regular
meeting in July, 1983, and every two years or four years thereafter, as appropriate, the
board of county commissioners of each county shall appoint a county assessor to serve
a term of not less than two nor more than four years; provided, however, that no person
shall be eligible for initial appointment to a term of more than two years unless such
person is deemed to be qualified as provided in subsection (b) of this section or has been
certified by the Department of Revenue as provided in subsection (c) of this section.
The board of commissioners may remove the assessor from office during his term for

13
 good cause after giving him notice in writing and an opportunity to appear and be heard
at a public session of the board. Whenever a vacancy occurs in this office, the board of
county commissioners shall appoint a qualified person to serve as county assessor for
the period of the unexpired term.
(b) Persons who held the position of assessor on July 1, 1971, and continue to hold
the position, and persons who have been certified for appointment as assessor by the
Department of Revenue between July 1, 1971, and July 1, 1983, are deemed to be
qualified to serve as county assessor. Any other person selected to serve as county
assessor must meet the following requirements:
(1) Be at least 21 years of age as of the date of appointment;
(2) Hold a high school diploma or certificate of equivalency, or in the
alternative, have five years employment experience in a vocation which is
reasonably related to the duties of a county assessor;
(3) Within two years of the date of appointment, achieve a passing score in
courses of instruction approved by the Department of Revenue covering the
following topics:
a. The laws of North Carolina governing the listing, appraisal, and
assessment of property for taxation;
b. The theory and practice of estimating the fair market value of real
property for ad valorem tax purposes;
c. The theory and practice of estimating the fair market value of
personal property for ad valorem tax purposes; and
d. Property assessment administration.
(4) Upon completion of the required four courses, achieve a passing grade in a
comprehensive examination in property tax administration conducted by the
Department of Revenue.
(c) Certification. - Persons meeting all of the requirements of this section shall be
certified by the Department of Revenue. From the date of appointment until the date of
certification, persons appointed to serve as county assessor are deemed to be serving in
an acting capacity. Any person who fails to qualify within two years after the date of
initial appointment shall not be eligible for reappointment until all of the requirements
have been met.
(d) In order to retain the position of county assessor, every person serving as county
assessor, including those persons deemed to be qualified under the provisions of this
act, shall, in each period of 24 months, attend at least 30 hours of instruction in the
appraisal or assessment of property as provided in regulations of the Department of
Revenue.
(e) The compensation and expenses of the county assessor shall be determined by
the board of county commissioners.
(f) Alternative to separate office of county assessor. - Pursuant to Act [Article] VI,
Section 9 of the North Carolina Constitution, the office of county assessor is hereby
declared to be an office that may be held concurrently with any other appointive or
elective office except that of member of the board of county commissioners.

105-299. Employment of experts.

14
 The board of county commissioners may employ appraisal firms, mapping firms or other
persons or firms having expertise in one or more of the duties of the assessor to assist the
assessor in the performance of these duties. The county may also assign to county agencies,
or contract with State or federal agencies for, any duties involved with the approval or
auditing of use-value accounts. The county may make available to these persons any
information it has that will facilitate the performance of a contract entered into pursuant to
this section. Persons receiving this information are subject to the provisions of G.S. 105-
289(e) and G.S. 105-259 regarding the use and disclosure of information provided to them
by the county. Any person employed by an appraisal firm whose duties include the appraisal
of property for the county must be required to demonstrate that he or she is qualified to carry
out these duties by achieving a passing grade on a comprehensive examination in the
appraisal of property administered by the Department of Revenue. In the employment of
these firms, primary consideration must be given to the firms registered with the Department
of Revenue pursuant to G.S. 105-289(i). A copy of the specifications to be submitted to
potential bidders and a copy of the proposed contract may be sent by the board to the
Department of Revenue for review before the invitation or acceptance of any bids. Contracts
for the employment of these firms or persons are contracts for personal services and are not
subject to the provisions of Article 8, Chapter 143, of the General Statutes. If the board of
county commissioners employs any person or firm to assist the assessor in the performance
of the assessor's duties, the person or firm may not be compensated, in whole or in part, on
a contingent fee basis or any other similar method that may impair the assessor's
independence or the perception of the assessor's independence by the public.

G. S. 105 – 317. Appraisal of Real Property, Adoption of Schedules, Standards, and Rules:

(a) Whenever any real property is appraised it shall be the duty of the persons making
appraisals:

(1) In determining the true value of land, to consider as to each tract, parcel, or
lot separately listed at least its advantages and disadvantages as to location;
zoning; quality of soil; waterpower; water privileges; mineral quarry; or
other valuable deposits; fertility; adaptability for agricultural, timber-
producing, commercial industrial, or other uses; past income; probable
future income; and any other factors that may affect its value except
growing crops of seasonal or annual nature.

(2) In determining the true value of a building or other improvements, to

consider at least its location; type of construction; age; replacement cost;
adaptability for residence, commercial, industrial, or other uses; past
income; probable future income; and any other factors that may affect its
value.

(3) To appraise partially completed buildings in accordance with the degree of

completion of January 1.

15
(b) In preparation for each revaluation of real property required by law G. S. 105 – 286, it
shall be the duty of the Tax Assessor to that:

(1) Uniform schedule of values, standards, and rules to be used in appraising

real property at its true value and at its present-use value are prepared and
are sufficiently detailed to enable those making appraisals to adhere to them
in appraising real property.

(2) Repealed by Session Laws, 1981, c. 678, s. 1.

(3) A separate property record to be prepared for each tract, parcel, lot, or group
of contiguous lots, which record shall show the information required for
compliance with the provisions of G. S. 105 – 309 insofar as they deal with
real property, as well as that required by this section. (The purpose of this
subdivision is to require that individual property records be maintained in
sufficient detail to enable property owners to ascertain the method, rules and
standards of value by which property is appraised.)

(4) The property characteristics considered in appraising each lot, parcel, tract,
building, structure, and improvement, in accordance with the schedule of
values, standards, and rules adopted pursuant to subsection (b), be
accurately recorded on the appropriate property record.

(5) Upon the request of the owner, the Board of Equalization and Review, or
the Board of County Commissioners, any particular lot, parcel, tract,
building, structure or improvement be actually visited and observed to
verify the accuracy of property characteristics on record for that property.

(6) Each lot, parcel, tract, building, structure, and improvement be separately
appraised by a competent appraiser, either one appointed under the
provisions of G. S. 105 – 296 or one employed under the provisions of G.
S. 105 – 299.

(7) Notice is given in writing to the owner that he is entitled to have an actual
visitation and observation of his property to verify the accuracy of property
characteristics on record for that property.

(c) The schedule of values, standards, and rules required by subdivision (b) (1), above,
shall be reviewed and approved by the Board of County Commissioners before
January 1 of the year they are applied.

(1) The Assessor shall submit the proposed Schedules, Standards, and Rules to
the Board of County Commissioners not less than 21 days before the
meeting at which they will be considered by the Board. On the same day

16
 that they are submitted to the Board for its consideration, the Assessor shall
file a copy of proposed schedules, standards, and rules in his office where
they shall remain available for public inspection.

(2) Upon receipt of the proposed schedules, standards, and rules, the Board of
County Commissioners shall publish a statement in a newspaper having
general circulation in the County stating:

a. That the proposed schedules, standards, and rules to be used

in appraising real property in the County have been
submitted to the Board of County Commissioners and are
available for public inspection in the Assessor’s office; and
b. The time and place of a public hearing on the proposed
schedules, standards, and rules that shall be held by the
Board of County Commissioners at least seven days before
adopting the final schedules, standards and rules.

(3) When the Board of County Commissioners approves the final Schedules,
Standards, and Rules, it shall issue an order adopting them. Notice of this
order shall be published once a week for four successive weeks in a
newspaper having general circulation in the County, with the last
publication being not less than seven days before the last day for
challenging the validity of the schedules standards, and rules by appeal to
the Property Tax Commission. The notice shall state:

a. That the Schedules, Standards, and Rules to be used in the

next scheduled reappraisal of real property in the County
have been adopted and are open to examination in the office
of the Assessor; and

b. That a property owner who asserts that the Schedules,

Standards, and Rules are invalid may except to the order and
appeal therefrom to the Property Tax Commission within 30
days of the date when the notice of the order adopting the
Schedules, Standards, and Rules was first published.

(d) Before the Board of County Commissioners adopts the schedule of values,
standards, and rules, the Assessor may collect data needed to apply the Schedules,
Standards, and Rules to each parcel in the County.

G.S. 105-317.1. Appraisal of personal property; elements to be considered.

(a) Appraisal Elements. - Whenever any personal property is appraised it shall be the duty
of the persons making appraisals to consider the following as to each item (or lot of similar items):
(1) The replacement cost of the property;
(2) The sale price of similar property;
(3) The age of the property;

17
 (4) The physical condition of the property;
(5) The productivity of the property;
(6) The remaining life of the property;
(7) The effect of obsolescence on the property;
(8) The economic utility of the property, that is, its usability and adaptability for
industrial, commercial, or other purposes; and
(9) Any other factor that may affect the value of the property.
(b) Business Property. - In determining the true value of taxable tangible personal property
held and used in connection with the mercantile, manufacturing, producing, processing, or other
business enterprise of any taxpayer, the persons making the appraisal shall consider any
information as reflected by the taxpayer's records and as reported by the taxpayer to the North
Carolina Department of Revenue and to the Internal Revenue Service for income tax purposes,
taking into account the accuracy of the taxpayer's records, the taxpayer's method of accounting,
and the level of trade at which the taxpayer does business.
(b1) Farm Equipment. - In determining the true value of taxable farm equipment, the person
making the appraisal may use any of the appraisal methods listed in subsection (a) of this section
and must consider relevant taxpayer information as required under subsection (b) of this section.
The Department must publish a depreciation schedule for farm equipment to assist counties that
use the cost approach to appraise this equipment. The Department must make the schedule
available electronically on its Web site. A county that uses a cost approach method to appraise this
equipment must use the depreciation schedule published pursuant to this subsection.
(c) Appeal Process. - A taxpayer who owns personal property taxable in the county may
appeal the value, situs, or taxability of the property within 30 days after the date of the initial notice
of value. If the assessor does not give separate written notice of the value to the taxpayer at the
taxpayer's last known address, then the tax bill serves as notice of the value of the personal
property. The notice must contain a statement that the taxpayer may appeal the value, situs, or
taxability of the property within 30 days after the date of the notice. Upon receipt of a timely
appeal, the assessor must arrange a conference with the taxpayer to afford the taxpayer the
opportunity to present any evidence or argument regarding the value, situs, or taxability of the
property. Within 30 days after the conference, the assessor must give written notice to the taxpayer
of the assessor's final decision. Written notice of the decision is not required if the taxpayer signs
an agreement accepting the value, situs, or taxability of the property. If an agreement is not
reached, the taxpayer has 30 days from the date of the notice of the assessor's final decision to
request review of that decision by the board of equalization and review or, if that board is not in
session, by the board of county commissioners. Unless the request for review is given at the
conference, it must be made in writing to the assessor. Upon receipt of a timely request for review,
the provisions of G.S. 105-322 or G.S. 105-325, as appropriate, must be followed. (1971, c. 806,
s. 1; 1987, c. 813, s. 15; 2002-156, s. 2; 2018-113, s. 14(a).)

G. S. 105 – 277.6. Agricultural, Horticultural and Forestland – Appraisal; Computation of

Deferred Taxes:

(a) In determining the amount of deferred taxes herein provided, the Tax Assessor shall
use the appraised valuation established in the County’s last general revaluation
except for any changes made under the provision of G. S. 105 – 287.

18
(b) In revaluation years, as provided in G. S. 105 – 286, all property entitled to
classification under G. S. 105 – 277.3 shall be reappraised at its true value in money
and its present use value as of the effective date of the revaluation. The two
valuations shall continue in effect and shall provide the basis for deferred taxes
until a change in one or both of the appraisals is required by law. The present use-
value schedules, standards, and rules shall be used by the tax assessor to appraise
property receiving the benefit of this classification until the next general revaluation
of real property in the County as required by G. S. 105 – 286.

(c) Repealed by Session Laws 1987, c 295, s. 2, effective January 1, 1988.

Definitions

When used in this Subchapter (unless the context required a different meaning):

(1) “Appraisal” means both the true value of property and the process by which
the assessment is determined.

(2) “Assessment” means both the tax value of property and the process by
which the assessment is determined.

(3) “Real Property”, ”Real Estate,” and “Land” means the land itself, but also
buildings, structures, and improvements.

(4) “Taxing Unit” means a county or municipality authorized to levy Ad

Valorem property taxes.

(5) “Valuation” means appraisal and assessment.

19
 THE APPRAISAL PROCESS

The responsibility to appraise (reappraise) all real property in the County identifies the need for
definition and implementation of procedural guidelines to be uniformly followed throughout the
project. Once adopted, these guidelines should also be followed in making individual assessments,
subsequent to the general reappraisal of all real property. It is intended that any guidelines
incorporated in this manual are to be followed to the extent they assist in the assessment/appraisal
function of the Tax Office, but not as rigid rules which substitute for sound appraisal judgment.

Through the course of Appraisal and Assessment history, there has developed an orderly flow of
procedures, generally followed in the solution of most appraisal problems. This ordering of
appraisal/assessment procedures has generally become known as the “Appraisal Process” and is
briefly outlined as follows:

PRELIMINARY SURVEY AND APPRAISAL PLAN

Data Data Personnel Time Completion

Needed Source Needed Schedule Flow Chart

DATA COLLECTION AND ANALYSIS

LOCATIONAL ECONOMIC SUBJECT PROPERTY

COMPARATIVE
Region Market Analysis Tile Costs
City Financial Site Sales
Neighborhood Economic Base Physical Rentals
Etc. Trend Highest/Best Use Expenses

APPLICATION OF THE THREE APPROACHES

Cost Market Data Income

RECONCILIATION OF VALUE INDICATIONS

FINAL ESTIMATE OF VALUE

20
While this process lends itself particularly well to solving individual appraisal
problems, it is equally fundamental to the efficient development of appraisals on a
mass basis, such as the countywide revaluation project. Adaptation of this process for
mass appraisal use is illustrated below.

DEFINITION OF THE PROBLEM

To appraise all real property in Onslow County at its “true value”, in accordance with
applicable North Carolina General Statues.

PRELIMINARY SURVEY AND APPRAISAL PLAN

Data Needed:

All available data pertinent to estimating the “true value” of each parcel of real
property in Onslow County, for the purposes of Ad Valorem tax assessment.

Data Sources:

Recent real estate sales transactions; local real estate appraisers, brokers, multiple
listing service data, etc.; lenders, contractors; builders; farms; county agent; and all
other available informed sources.

Time Schedule:

The reappraisal project is to be complete in near proximity to January 1, 2022.

Subsequent appraisals/assessments, to be completed in accordance with N.C.G.S.
105–287 and/or other applicable statutes.

21
 DATA COLLECTION AND ANALYSIS

General Data – Location:

Regional and city data shall be interpreted as representing general and geographic
areas of Onslow County and the city data as those areas within the cities and towns of
Onslow County. Data relative to such general locations should include all pertinent
factors having effect upon market values and trends within said general locations.
Examples include zoning regulations, availability of municipal utilities, proximity to
major traffic patterns, areas of centralized business and market activity, general
topographical features which are particularly attractive or adverse in the real estate
market for a given area, and location factors recognized to be pertinent in developing
assessed values for subject areas within the County.

General Data – Economic:

The general economic data considered shall be that data particular to the areas
described above. Such data shall include factors which may affect the general
economy of any area and the property values within that area, all other available
pertinent general economic data.

Specific Data – Subject:

Each appraisal/assessment shall reflect consideration given to all factors, which may
have effect upon the value of the property being appraised, as required in G. S. 105 –
317.

Specific Data – Comparative:

Comparative data including current building cost, market prices paid in recent
property transfers, and other available market data are considered in individual
analysis during the development of the Schedule of Values reflected in this manual.
The resulting schedules are then employed in the assessment determination for each
parcel, with further consideration given (where practicable) to specific comparative
data as it pertains to the property being appraised.

22
 APPLICATION OF THE THREE APPROACHES

Cost Approach:

The Cost Approach, as employed in the mass appraisal process, is a correlation of

value indications derived through all available approaches to value estimated (Cost,
Market Data, Income, Regression Analysis, and/or any appropriate combination of
these approaches). It is an approach wherein the value contribution of improvements
(as indicated from all pertinent considerations), is translated into easily understandable
units of comparison such as square or cubic feet and incorporated into a schedule of
values, as reflected in this manual. Once established and adopted, this Schedule of
Values is used to determine improvement Replacement/Reproduction Costs estimates
from which are deducted appropriate allowances. The estimate of improvement values
is added to the land value (as determined from the appropriate land value schedule).

It is important to remember that, while all appraisals/assessments of improved

properties in Onslow County will be shown in the form of a Cost Approach, the
appraisals are nonetheless, a consolidation of all available pertinent facts having
effect upon the value of the property being appraised.

Sales Comparison Approach:

In the mass appraisal process, the Sales Comparison Approach is continuously

employed. Its use begins with initial development of the schedule of values against
current market transfers until sufficient refinement is achieved and the schedules are
finally adopted. It is then incorporated into each individual appraisal by use of these
schedules. It is then used in the revaluation project, and in subsequent appraisals, to
verify the correctness of individual assessments and/or to identify any errors, which
may occur.

Condominiums are valued by utilizing the sales comparison approach. Sales within
each complex are analyzed and a unit rate is determined for each group of similar
units. In grouping similar units, the following factors are considered: Type of unit,
floor level, location within the complex, age, unit size, and condition.

The sales comparison approach is also used to value similar property interests held in
a non-traditional ownership form. Examples are camper sites which are deeded and
held as tenants in common with undivided interest in the campground with exclusive
right to occupy and use a specific lot, timeshare developments, and interval ownership
arrangements. Typically, these alternative forms of ownership are subject to a
structured agreement and membership in a property owners association, which collects
dues and pays for all common expenses including property taxes. The sales
comparison approach is the best method to determine the market value such ownership
interests when adequate sales data is available. Since NC General Statutes governing

23
property listing require that undivided interests be listed on a single abstract (tax parcel
record), the sum total of all collective property rights or undivided interests are added
to determine the value of the parcel.

Income Approach:

The Income Approach is limited in its application to those properties that are best used
for the production of income. In the mass appraisal process, all available economic
data is analyzed as it pertains to income producing properties found in the County.
This data is then reduced to units of comparison as in the Cost and Market Data
Approaches. Therefore, the individual consideration process in general is reflected in
the Schedule of Values as adopted.

Whenever the necessity for individual, specific attention of the Income Approach
becomes apparent in the appraisal of a particular property, the following general
guidelines are recommended.

(1) Income to be capitalized shall be that which is considered to represent the

potential earning capacity of the property being appraised. This income estimate will
often be stated in terms of net rental before taxes and recapture, but may also be
considered in other terms, such as gross rental, etc.

(2) Capitalization of income may be accomplished by any accepted method or

technique which results a value indication in compliance with the requirements of the
“Uniform Appraisal Standard” (N. C. G. S. 105 – 283). Examples of capitalization
methods and techniques include Straight Line Capitalization, Annuity Capitalization,
Sinking Fund Method, Residual Techniques, etc.

(3) Capitalization rates may be expressed as overall rates, built-up rates,

factors, etc. Such rates are limited in their use however, by the practical application
in the Income Approach to generate value indications as required by statute.

Income Models have been developed using market data reflective of commercial
property sales in Onslow and other eastern North Carolina counties. The income
models were then tested against actual sales of different types of commercial property,
and adjusted as needed. It was determined that different levels were needed to
accurately determine values within different property types. For example, retail
properties have three different models identified as Retail 1, 2, or 3 based on the
locations and various economic factors inherent in each level.

Income models are constructed to determine the potential gross income by one of three
methods; square foot rate (retail, mini-storage, warehouse), room rate (hotel/motel),
or unit rate (apartments). Vacancy & collection losses are included in the income
models and expressed as a percentage of potential gross income. The income models

24
also include a percentage of effective gross income expressed as a percentage.
Capitalization Rates are also included in the models and are also expressed as a
percentage.

The basic formula for income capitalization is as follows:

Potential Gross Income

minus Vacancy & Collection Loss
equals Effective Gross Income
minus Expenses
equals Net Operating Income
divided by Capitalization Rate
equals Value

In summary, the Income Approach will be employed in the appraisal of each property
where applicable and shall utilize those methods and techniques which are generally
understood and accepted in the assessment/appraisal field. Value indications derived
by the Income Approach (as in any other approach) shall be maintained only to the
extent that they comply with the provisions of the North Carolina General Statutes.

The following chart illustrates the typical usefulness of each approach:

Rank of typical usefulness of the three approaches to value

in the mass appraisal of major types of property
Type of Cost Sales Comparison Income
Property Approach Approach Approach
Single-family
residential 2 1 3
Multifamily
residential 3 1, 2 1,2

Commercial 3 2 1

Industrial 1, 2 3 1, 2

Nonagricultural land - 1 2

Agricultural - 2 1

Special purpose 1 2, 3 2, 3

Source: IAAO Standard on Mass Appraisal of Real Property - 2017

25
 RECONCILIATION OF VALUE INDICATIONS

After analysis of all factors influencing the value of properties in Onslow County, the
data and value indications are reconciled into the Schedule of Values as adopted and
incorporated herein by reference.

This procedure facilitates consideration of the large amount of data involved in the
revaluation project, while also providing any easy reference for both the tax office
staff and the taxpayer. As adopted, the Schedule of Values remain in effect until the
next general revaluation in Onslow County and serve, in conjunction with the
provisions of the “Machinery Act”, as the basis for all assessments by the County.

FINAL ESTIMATE OF VALUE

With only few exceptions, final estimate of value will be shown on individual property
records cards maintained in the tax office files. These property record cards shall
identify the physical features of the property appraised and other factors having effect
upon its value. The calculation of final values will be generally based upon unit rates
as reflected in the Schedule of Values. (It should be remembered that these unit rates
have been developed from analysis and consideration of all available data, and do not
necessarily reflect only one approach). The following illustrations show the property
cards used in the Onslow County revaluation, and the location for the value estimate.

ANALYSIS OF SALES ASSESSMENT RATIOS

On an annual basis, the North Carolina Department of Revenue performs a sales

assessment ratio study for each of North Carolina’s 100 counties. The ratio studies
are based on sales that have occurred during the previous 12-month period. Below
are the results of the state’s ratio studies dating back to the last revaluation which
was effective January 1, 2018:

Year Median Ratio

2018 98.59
2019 94.96
2020 89.25
2021 85.52

As a matter of routine practice, the Onslow County Tax Office conducts periodic
sales ratio studies to keep abreast of changes in the local market. As previously
stated, the purpose on conducting a reappraisal is to assess all properties at current
market value levels in order to provide a fair and equitable tax system for the
citizens. As such, the goal of the reappraisal is to reduce the gap between assessed
values and current market values so that the sales ratio is at 100%.

26
 In addition to assessment level, sales ratio studies are also used to measure
assessment uniformity. Measures of uniformity are used to determine consistency in
assessment levels between property classes, such as residential and commercial. It is
also used to verify that residential assessment levels are consistent among, age
groups, size groups (building square footages), construction classes, and
neighborhoods. Two primary measures of uniformity are the COD (Coefficient of
Dispersion) and the PRD (Price Related Differential).

The IAAO Standard on Ratio Studies (2013) recommends the following for jurisdictions
required to appraise at current market value.

Appraisal Level
Assessment level within 10% of the legal level, .90-1.10
(NC Statutes specify 1.00 or 100%)

Appraisal Uniformity
COD (Coefficient of Dispersion)

Ratio Study Uniformity Standards COD

Single-family residential (including
residential condominiums) Newer or more homogenous areas 5.0 to 10.0

Single-family residential Older or more heterogenous areas 5.0 to 15.0

Rural, seasonal, recreational, manufactured

Other residential housing, multifamily housing 5.0 to 20.0

Income-producing properties Larger areas represented by larger samples 5.0 to 20.0

Smaller areas represented by smaller
Income-producing properties samples 5.0 to 25.0

Vacant land 5.0 to 25.0

Source: IAAO Standard on Ratio Studies-2013

PRD (Price-related Differential) range from .98 – 1.03

27
 THE RESIDENTIAL & COMMERCIAL

PROPERTY RECORD CARDS

The property record card provides an orderly list of the property characteristics of
each parcel, with a description and assigned value of the various components which
contribute to the value of the property. The following section lists the various codes
which are used to identify the property characteristics included on the property record
card (PRC). Following the list of codes are examples of both the residential and
commercial property record cards.

Although the data on the PRC is displayed in a Cost Approach format, it is important
to remember that the Assessor’s office is required to divide every parcel’s appraised
value into its components (land and building). The ultimate goal is to determine the
total value of the parcel, thus if an owner elects to appeal a value, only the total value
is in question-not its components.

28
DESCRIPTION OF THE RESIDENTIAL PROPERTY RECORD CARD

OWNERSHIP – Name and address of the owner of the tax parcel. This also provides
us with the deed book and page that is recorded in the Office of the Register of Deeds.

SITUS DESCRIPTION – The number and road name where the parcel is located.

LEGAL DESCRIPTION – Legal description of parcel.

PAR ID – Parcel identification number,

MAP NUMBER – Physical location of parcel on tax maps.

JURISDICTION – Indicates the Township and City (if applicable) the parcel is
located in.

CARD NUMBER – Indicates how many cards a parcel consists of.

COMMENTS – Used for miscellaneous notes.

REVISIT - Designed to assist the assessor as to a date to recheck the percent complete.

NBHD – Neighborhood in which parcel is located.

ROUTE # – Number assigned to the parcel to assist the appraiser in the field.

APPR – Appraiser that measured and listed the property.

REV2 - Appraiser that reviewed the listing of the parcel.

N-FACT – Neighborhood factor; can be applied to Land, Structure, or both. It is used

to adjust the calculated values in the neighborhood to meet the market values.

29
 LAND

LUC - Primary land Use Code

TOPO – Description of the land:

01- Level 04- Rolling 07- Swampy
02- Creek 05- Steep 08- Easement
03- Ditch 06- Low 09- Lake/Pond

ROAD – Describes the road surface and the type of traffic on the road:
01- None 04- Medium 07- Dirt
02- No Outlet 05- Heavy 08- Sidewalk
03- Light 06- Paved

TRAFFIC – Describes the type of traffic on the road:

01- None 04- Medium 07- Dirt
02- No Outlet 05- Heavy 08- Sidewalk
03- Light 06- Paved

UTIL – Utilities provided to the parcel:

01- All Public 04- Gas 07- Storm Sewage
02- Public Water 05- Well 08- Electric
03- Public Sewage 06- Septic 09- None

ZONING – Specific use of the parcel as determined by the city in which it is located.

TOTAL PARCEL SIZE – Amount of land in a parcel.

LAND TYPE – How the land is priced:

“A” Acreage
“F” Front Foot
“G” Gross Value
“N” No Land
“S” Square Foot
“U” Units

DESCRIPTION – Land class for each land line

SIZE – Defines the size of each land class; stated either by acre, front foot, depth, or
square footage.

BASERATE – Non-adjusted amount for each land class.

FRONTAGE – The distance which a property abuts a street, body of water, or other
public way. Expressed on card under SIZE as ‘F’rontage x ‘D’epth.

30
WEIGHTED AVERAGE – In the case of irregular shaped lots, the frontage may be
calculated using a weighted average. In these instances, the stated frontage and acreage
may deviate from the actual frontage and acreage. This has no impact on the assessed
value or legal ownership, as it is a calculation used only for assessment purposes.

DEPTH – The distance from the front to the rear line of a parcel. Expressed on card
under SIZE as ‘F’rontage x ‘D’epth.

ADJUSTMENT FACTOR – Adjustment applied for factors other than frontage or

depth.

ADJUSTED RATE – Rate after all necessary land adjustments are made.

LAND VALUE – The total land value

OB&Y’S

OTHER BUILDINGS AND YARD ITEMS FEATURES – Defined as outbuildings

or other features located on the parcel.

YR BLT – Estimated year that the feature was built.

EFF YR – Effective year built of the feature for depreciation.

AREA – Calculated area of the feature

W x L – Measurements of the feature, Width x Length.

GRADE – Quality Grade of the feature.

UNITS – # of units of a particular feature. (# of identical features)

RATE – Non-adjusted rate for each feature.

OVRD RTE – Override rate for the feature

RCN – Estimated reproduction cost new of the feature.

COND. – Condition of the feature.

FNCT – Functional obsolescence factor.

%CMP – Percentage complete as of January 1 of the assessment year.

%GD – Percentage good for the feature after depreciation allowance.

31
RCNLD – Value of the feature after depreciation.

TOTAL – Total value of all outbuildings and other features.

STRUCTURES
STORY – Story height of base area.

CLASS – Construction style.

YR BLT – Estimated year that structure was built.

EFF YEAR – Effective year of the structure.

YR REMOD – Estimated year that structure was remodeled.

HEATING – Distinguishes the heating system.

FUEL – Fuel type on which the heating system operates.

FIREPLACES – Number of fireplace openings.

PHYS COND – Physical condition of structure.

GRADE – Quality of construction.

• A – Excellent
• B – Above Average
• C – Average
• D – Below Average
• E – Poor

C&D FACT – Construction and design factors; allows appraiser to make adjustments
between Grade levels.

CDU – Physical condition of structure.

• E – Excellent
• G – Good
• A – Average
• F – Fair
• P – Poor
• X – Double Wide Manufactured Home
• M – Single Wide Manufactured Home

32
REC ROOM – Recreation room area.

ROOMS – Estimated total numbers of rooms.

BEDROOMS – Estimated number of bedrooms.

BATHS – Number of full baths (3 fixtures).

HALF – Number of half baths (2 fixtures).

EXTRA FIXT – Additional plumbing fixture.

BSMT – Basement area.

FIN BSMT – Finished Basement (living area)

UNFIN – Unfinished basement area.

EXT WALL – Exterior Finish -External parts or surfaces that are outside.

FNDT– Foundation - The basis on which a thing stands, is founded, or is supported.

ROOF – Roof Type – Style of roof on the structure.

ROOF MAT – Roof Material – Specifies type of material that the roof consists of.

INT WALL – Interior finish of the walls.

FLOOR – Specifies the material on the floor surface.

FNCT DEP% – Used for entering functional obsolescence.

ECON DEP% – Used for entering economic obsolescence.

OVER DEPR TB – Depreciation override for physical depreciation.

TV/SF – Total value divided by Heated Square Feet

SP/SF – Sales Price divided by Heated Square Feet

RCN/SF – Structure Value before depreciation divided by Heated Square Feet

RCNLD/SF – Structure Value after depreciation divided by Heated Square Feet

SKETCH VECTORS – The route in which the data was entered in order to sketch the
structure.

LOW 1st 2nd 3rd – The level of each additional section to the main area.

33
DESCRIPTION – The sections of the structure and what each is called.

AREA – The area of each section and total square footage of the structure.

VALUE(RCN) – The non-adjusted amount for each section of the structure.

TABLE – Percentage good based on depreciation table associated with CDU of

structure.

RCNLD – Value after all necessary adjustments.

ITEMS WHICH INFLUENCE VALUE

• Grade (Quality) of Structure

• Area of Structure
• Fireplace
• Baths
• Half Baths
• Fixtures
• Exterior Finish
• Heating and Air
• Story Height
• Wall Height
• Spa’s

34
Residential Property Record Card side 1

35
Residential Property Record Card – side 2

36
DESCRIPTION OF THE COMMERCIAL PROPERTY RECORD CARD

GENERAL INFORMATION

PAR ID – Parcel identification number,

MAP NUMBER – Physical location of parcel on tax maps.

ROUTE # – Number assigned to the parcel to assist the appraiser in the field.

SITUS DESCRIPTION – The number and road name where the parcel is located.

OWNERSHIP – Name and address of the owner of the tax parcel.

LEGAL DESCRIPTION – Legal description of parcel. Also displays deeded acres,

Tax District, Plat Book/Page,
and calculated acres.

LAND USE/ZONING – Indicates primary land use, property class, zoning,

neighborhood number, and utilities.

MISC INFO – Indicates how many cards a parcel consists of, card print date, review
code/date and township.

COMMERCIAL BUILDING

COMMERCIAL BLDG DATA

STRUCTURE- Structure code and description

GRADE – Quality Grade of the building.

BUILDING #- Building sequence number on parcel.

UNITS/IDENTICAL BLDGS- Number of units and identical buildings.

YR BLT- Actual year built of building.

EFF YR- Effective year of building.

AREA- Total area of building.

HEATED- Business living area of building.

CDU- Physical condition of structure.

37
%COMP- Percent complete of structure.

RCN- Replacement cost new.

RCN $/SF- Replacement cost new per square foot.

RCNLD- Replacement cost new less depreciation.

RCNLD %/SF- Replacement cost new less depreciation per square foot.

COMMERCIAL INT/EXT SECTION DATA

SECT- Building section sequence number.

LEVEL- Floor level, can be expressed as range of floor numbers.

INTFIN- % of interior that is finished area.

AREA- Area of section.

PERIM- Perimeter of section.

USE TYPE- Commercial use of section.

W HT- Exterior wall height of section.

EXT WALL- Exterior wall finish material.

CONST- Construction Type Code

PT- Partition Code

HT- Heat Code

AC- Air Conditioning Code

PB- Plumbing Code

LT- Lighting Code

PHYS- Physical condition of section.

FNCT- Functionality Rating (E, G, A, F, P)

%GD- Depreciated percent good.

38
ECON%- Economic depreciation adjustment factor.

FUN%- Functional obsolescence adjustment factor.

%CMP- percent complete of section.

RCNLD- Replacement cost new less depreciation of section.

COMMERCIAL FEATURE DATA-(non-business living areas of commercial

buildings)

FEATURE- Description of commercial feature.

UNITS- Number of units.

MEASURE- Measurements/dimensions of feature area.

AREA- Calculated area of feature.

VALUE- Depreciated value of feature.

NOTES– Used for miscellaneous notes.

OUTBUILDINGS (Other Buildings & Yard Items)

DESCRIPTION- Description of item.

UNITS- number of units.

YRBLT- Actual of effective year built for depreciation calculation.

DIM- Dimensions of item, length x width.

AREA- Calculated area of item.

GRD- Quality grade.

COND- Physical condition of item.

FUNC- Functional utility of item.

MKT- Market or depreciation adjustment for item.

VALUE- Calculated value of item.

39
TOTL VALUE- Total value of all OBY’s.

CODE DESCRIPTION (Sketch Section)- Displays description and area of each

sketch component.

PHOTO- Displays photo of improvement

ENTRANCE- Displays property visit data history.

PERMITS- Lists permit data for parcel.

SALES- Sales information including deed date, book & page number, sales validity
code, and sale amount.

ITEMS WHICH INFLUENCE VALUE

• Grade (Quality) of Structure

• Area of Structure
• Perimeter
• Exterior Wall
• Wall Height
• Heating and Air
• Story Height
• Construction Type

40
Commercial Property Record Card Side 1

41
Commercial property Record Card Side 2

42
RESIDENTIAL AND COMMERCIAL

DATA CODES

43
 RESIDENTIAL STRUCTURAL CLASSES

Below is a list of classes for residential improvements which are found throughout Onslow
County.

CLASS 01 Ranch
CLASS 02 BI- level
CLASS 03 Split Level
CLASS 04 Conventional
CLASS 05 Contemporary
CLASS 06 Colonial
CLASS 07 Cape Cod
CLASS 08 Cottage
CLASS 09 Bungalow
CLASS 10 Farm
CLASS 11 Modular
CLASS 12 Single Wide Manufactured Home
CLASS 13 Multi-Section Manufactured Home
CLASS 14 Log
CLASS 15 Victorian
CLASS 16 Tudor
CLASS 17 Multi-Family
CLASS 18 Storage Container
CLASS 24 Beach Cottage
CLASS 25 Condo
CLASS 26 Town House
CLASS 27 Duplex
CLASS 28 Special
CLASS 32 Conversion

CONSTRUCTION STYLE – Below is a list of different styles of Residential improvements

throughout Onslow County.

STYLE 01 Single Family

STYLE 02 Beach Duplex
STYLE 03 Duplex
STYLE 04 Apartment
STYLE 05 Single Family with Special Ceiling
STYLE 06 Condominium

44
 STYLE 07 Town Home
STYLE 08 Multi-Family
STYLE 37 Multi-Section MH
STYLE 38 Multi-Section MH
STYLE 39 Singlewide M/H
STYLE 41 Mixed Use Res/Com
STYLE 54 Beach Townhome
STYLE 63 Beach House
STYLE 73 Beach Condo

COND – PHYSICAL CONDITION – This describes the condition of the structure

COND – E – Excellent
COND – G – Good
COND – A – Average
COND – F – Fair
COND – P – Poor
COND – X – Double Wide Manufactured Home
COND – M – Single Wide Manufactured Home

EXTWALL – EXTERIOR WALL FINISH – This is the different types of materials used on
the outside of the structure.

EXTWALL01- Frame – Siding, Plywood

EXTWALL02- Brick Veneer
EXTWALL03- Brick Frame
EXTWALL04- Concrete Block
EXTWALL05- Stucco Block
EXTWALL06- Stucco Frame
EXTWALL07- Stone
EXTWALL08- Modular Metal
EXTWALL11- Aluminum/Vinyl
EXTWALL13- Metal/Glass
EXTWALL16- Asbestos Shingle
EXTWALL17- Composition Roll
EXTWALL18- Wood Shingle
EXTWALL19- Board and Batten
EXTWALL20- Siding on Sheathing
EXTWALL21- Cedar/Redwood/Cypress
EXTWALL22- Stone Veneer/Permastone
EXTWALL23- Log
EXTWALL25- Cedar Shake
EXTWALL26- Hard Board (Hardy board or plank)
EXTWALL27- Metal/Insulation/Metal (Sandwich)

45
RFTY – ROOF TYPE – These are the different styles of roof types.

RFTY01- Gambrel
RFTY02- Hip
RFTY03- Double Pitch
RFTY04- Mansard
RFTY05- Flat
RFTY06- Single Pitch
RFTY07- Arched
RFTY08- Monitor
RFTY09- Saw tooth
RFTY10- Dome
RFTY11- Shed
RFTY12- Gable
RFTY13- Bow
RFTY14- Pagoda
RFTY15- Gypsum Wood Deck
RFTY16- Steel Deck
RFTY17- Pyramid
RFTY18- Concrete Plank
RFTY19- Pre-Stressed Concrete

RFMT – ROOF MATERIAL – These are the types of roof material.

RFMT01- Composition Shingle

RFMT02- Asbestos
RFMT03- Tile
RFMT04- Metal
RFMT05- Wood Shingle
RFMT06- Slate
RFMT07- Roll
RFMT08- Built Up
RFMT09- Tile/Concrete
RFMT10- Tar and Gravel
RFMT11- Concrete
RFMT12- Terra Cotta/Clay
RFMT13- Porcelain
RFMT14- Corrugated Metal
RFMT15- Copper

46
WLFN – INTERIOR WALL FINISH – The finish on the walls inside the structure.

WLFN01- Dry Wall

WLFN02- Panel
WLFN03- Plaster
WLFN04- Fiber Board
WLFN05- Acoustic
WLFN06- Unfinished
WLFN07- Other
WLFN08- Metal Panel
WLFN09- T & G Wood
WLFN10- Brick
WLFN11- Painted Block
WLFN12- Pine Ceiling Board
WLFN13- Minimum
WLFN14- Tile
WLFN15- Vinyl Panel
WLFN16- Log

FLFN – FLOOR FINISH – The type of material or finish on the floor.

FLFN01- Laminate
FLFN02- Hardwood
FLFN03- Concrete
FLFN04- Tile
FLFN05- Carpet
FLFN06- Unfinished
FLFN07- Metal
FLFN08- Terrazzo
FLFN09- Vinyl
FLFN10- Marble
FLFN11- Torginal
FLFN12- Brick
FLFN13 Heart Pine

47
FUEL – HEAT/AIR/PLANT FUEL – The type of fuel the structure is heated with.

FUEL01- Gas
FUEL02- Electric
FUEL03- Oil
FUEL04- Blank
FUEL05- Solar
FUEL06- Wood
FUEL07- None

HEAT – HEATING/AIR CONDITION – The type of heating and cooling system in the
structure.

HEAT00- No Heat, No A/C

HEAT01- Central Heat / A/C
HEAT02- Unit/ BB/ Electric
HEAT03- Furnace
HEAT04- Steam / HW
HEAT05- Central A/C
HEAT06- Solar
HEAT07- Unit Heat Pump
HEAT08- Electric/ Central A/C
HEAT09- Furnace/ Central A/C

48
TOPO – TOPOGRAPHY CODES – description of the parcel of land

TOPO01- Level
TOPO02- Creek
TOPO03- Ditch
TOPO04- Rolling
TOPO05- Steep
TOPO06- Low
TOPO07- Swampy
TOPO08- Easement
TOPO09- Lake/Pond

UTIL – UTILITIES – The utilities located on, or available to, the property.

UTIL01- All public Utilities

UTIL02- Public Water
UTIL03- Public Sewer
UTIL04- Gas
UTIL05- Well
UTIL06- Septic
UTIL07- Storm Sewer
UTIL08- Electric
UTIL09- None
UTIL10- Private Sewer

ROADS- Describes the type of road where the parcel is located.

01- None
02- No Outlet
03- Paved
04- Dirt
05- Sidewalk
06- Private

49
TRAFFIC – Describes the typical flow of traffic.

01- None
02- Light
03- Medium
04- Heavy

FNDT – FOUNDATION MATERIALS – The materials the structure is built on.

FNDT01- Slab
FNDT02- Concrete Block
FNDT03- Brick
FNDT04- Stone
FNDT05- Wood
FNDT06- Continuous Wall
FNDT07- Piers
FNDT08- Pilings

50
OTHER BUILDINGS & YARD ITEMS – Following is a list of the outbuildings
throughout Onslow County.

OBY01- Resident Recreational OBY50- Quonset

OBY02- Wood Deck OBY51- Blank
OBY03- Patio OBY52- Lean To
OBY04- Shed OBY53- Blank
OBY05- Pool OBY54- Gazebo
OBY06- Dwelling Sound Value OBY55- Auger Leg
OBY07- Bath House OBY56- Grain Bin
OBY08- Shelter OBY57- Blank
OBY09- Stable OBY58- Metal Building
OBY10- Generator OBY59- Kiosk
OBY11- Solar Panels OBY60- Blank
OBY12- Black Top OBY61- Blank
OBY13- Concrete OBY62- Blank
OBY14- Shop OBY63- Blank
OBY15- Finished Brick Garage OBY64- Boat Slip
OBY16- Finished Frame Garage OBY65- Boat House
OBY17- Unfinished Brick Garage OBY66- Commercial Pier
OBY18- Unfinished Frame Garage OBY67- Dock
OBY19- Carport OBY68- Golf Greens
OBY20- Swine Farrowing House OBY69- Lumber Shed
OBY21- Swine Nursery OBY70 Blank
OBY22- Swine Farrowing/Nursing OBY71- Blank
OBY23- Swine Breeding/Gestation House OBY72- Commercial Greenhouse
OBY24- Swine Finishing House OBY73- Commercial Building
OBY25- Poultry Brooding House OBY74- Blank
OBY26- Poultry Broiling House OBY75- Tennis Court
OBY27- Poultry Brooding/Broiling OBY76- Blank
OBY28- Outdoor Kitchen OBY77- Blank
OBY29- Outdoor Fireplace OBY78- Grain Elevator
OBY30- Enclosed Porch OBY79- Manufactured Home Hook Up
OBY31- Stoop OBY80- Commercial Swimming Pool
OBY32- Covered Porch OBY81- RV Hook Up
OBY33- Cargo Lift OBY82- Blank
OBY34- Utility Room OBY83- Canopy
OBY35- One Story Brick OBY84- Blank
OBY36- One Story Frame OBY85- Bridge
OBY37- Inexpensive Metal Storage OBY86- Service Station Canopy
OBY38- Implement Shed OBY87- Commercial Storage
OBY39- Bulkhead OBY88- Elevated Tank
OBY40- Spa OBY89- Sprinkler
OBY41- Finished Upper Story OBY90- Blank
OBY42- Unfinished Upper Story OBY91- Bricking
OBY43- Other Animal House OBY92- Blank
OBY44- Barn OBY93- Blank
OBY45- Blank OBY94- Blank
OBY46- Blank OBY95- Blank
OBY47- Blank OBY96- Building No Charge
OBY48- Blank OBY97- Freight Elevator
OBY49- Packing House OBY98- Passenger Elevator
OBY99- Dock Leveler

51
LND – LAND PRICING TYPES – identifies the method land is priced.

LTYP – A – Acreage “A” Acreage

LTYP – F – Front Foot “F” Front Foot

LTYP – U – Lot Price “U” Unit Price

LTYP – N – No Land “N” No Land

LTYP – S – Square Foot “S” Square Foot

LTYP – G – Gross “G” Gross Value

LUC – LAND USE CLASSIFICATIONS – describes the different type of land classes.

Code Description Code Description

1 Residential Lot 27 Right of Way
2 Residential Lot 28 Marsh/Wet
3 Residential Lot 29 Lake/Pond
4 Residential Lot 30 Mobile Home Park
5 Nitrification Field 31 RV Park
6 WF R/C 32 Rear
7 WF R/C 33 Commercial
8 WF R/C 34 Comm Ind Primary
9 WF Canal 35 Comm Ind Secondary
10 WF Canal 36 Cemetery
11 WF ICW 37 Quarry
12 WF Sound 38 Island Spoil
13 WF Sound 39 Oyster Bottom
14 WF Ocean 40 Mineral Rights
15 WF Ocean 41 Common Area
16 Waterview 42 Commercial
17 Undeveloped 43 Commercial
18 Townhome 44 Commercial
19 Building Site 45 Commercial
20 Building Site 46 WF ICW
21 Bldg Site Off-Road 47 WF ICW
22 Golf Course Lot 48 Waterview
23 Residual 49 Waterview
24 Clear 50 Waterview
25 Woodland 51 Undeveloped

52
 Code Description Code Description
52 Undeveloped 77 Residential Lot
54 Bldg Site Off-Road 78 Residential Lot
55 Bldg Site Off-Road 79 WF Ocean
56 Golf Course Lot 80 WF Ocean
57 Residual 81 WF Ocean
58 Residual 82 WF Sound
59 Mobile Home Park 83 WF Sound
60 Mobile Home Park 84 WF Sound
61 Mobile Home Park 85 Building Site
62 Clear 86 Building Site
63 Clear 87 Building Site
64 Clear 88 Building Site
65 Woodland 89 Building Site
66 Woodland 90 Building Site
67 Woodland 91 Building Site
68 Residential Lot 92 Building Site
69 Residential Lot 93 Building Site
70 Residential Lot 94 RV Water
71 Residential Lot 95 Waterfront
72 Residential Lot 96 RV Water
73 Residential Lot 97 Commercial
74 Residential Lot 98 Undeveloped
75 Residential Lot 99 Appraiser Review
76 Residential Lot 100 Billboard Site
101 Cell Tower Site

SLSTYP – SALES TYPE CODES – This distinguishes the type of sale for a parcel(s).

SLSTYP 1- Land
SLSTYP 2- Land & Building
SLSTYP 3- Building

IMPR – IMPROVEMENT CODES – This let you know the type of building located on the
parcel.

IMPR A- Apartment
IMPR C- Commercial
IMPR D- Dwelling
IMPR I – Industrial
IMPR O- Other
IMPR V- Vacant

53
CDU PERCENTAGE GOOD TABLES

CDU 00- Residential

CDU 01- Residential
CDU 02- Residential
CDU 03- Residential
CDU 04- Residential
CDU 05- Residential
CDU 06- Residential
CDU 07- Residential
CDU 08- Residential
CDU 09- Residential
CDU10- OBY-Other Buildings & Yard Items
CDU20- Commercial
CDU30- Commercial
CDU40- Commercial
CDU50- Commercial
CDUC00- Commercial
CDUP6- Commercial
CDUP7- Commercial

NOTE: All STYLE Buildings automatically apply the standard depreciation

unless an alternate CDU is assigned.

54
ENTRANCE CODES

ENTR 01- Owner

ENTR 02- Relative
ENTR 03- Tenant
ENTR 04- Internal
ENTR 05- Estimate
ENTR 06- Owner Refused

ACREAGE FACTOR TABLES

TABLE01- Agricultural Land

TABLE02- Woodland
TABLE01- .01 - .99 Acre Lot

INSTYP - INSTRUMENT TYPE – SALES CODE

INSTYP01 Deed
INSTYP02 Estate # or Will
INSTYP03 Quitclaim
INSTYP04 Civil Action
INSTYP05 ADES-Additional Deed Description
INSTYP06 Secretary of State
INSTYP07 Records of Administration
INSTYP08 Annexation Deed
INSTYP09 Affidavit or Transfer
INSTYP10 Name Change/Resume Maiden Name
INSTYP11 Death Certificate

55
 SUMMARY OF APPRAISAL PROCESS

The term Tax Appraiser shall apply to all individuals who list, measure and/or appraise
real property in Onslow County for Ad Valorem tax purposes. The term Tax Appraiser
shall also apply to those individuals, who are charged with the responsibility of formulating
value estimates, which are recommended to the County Tax Assessor. It should be
remembered the Tax Appraisers serve to assist the County Tax Assessor in his duties to
list and appraise property (See G. S. 105 – 296).

Complete property data collection and recording is essential to arriving at equitable

property assessments.

During inspection of a property, field appraisers are to physically inspect all improvements
located upon the property being appraised. This inspection will consist of measuring (or
confirming existing measurements) of all improvements, drawing a perimeter sketch (or
confirming existing sketches) of the improvements, and properly identifying all physical
features of the subject property to be appraised.

Due to technological advancements, computer-assisted desktop office reviews provide a

viable alternative to physical inspections. Desktop reviews can be conducting utilizing
street-view images, recent aerial photographs, and low-level oblique imagery.

Tax Appraisers shall complete a “Data Entry Form” in conjunction with the inspection for
new construction. Once this form (and the inspection) is completed, it shall be returned to
the office for further processing. It should be noted that classification, grade, and
depreciation made during the initial inspection will be considered only tentative, and
subject to final review. For existing building inspections, Tax Appraisers shall note any
changes on existing Property Record Cards.

The office clerical and data entry staff will input and review all Data Entry Forms and
Property Record Cards (PRC’s) to ensure accuracy of mathematical calculations and other
information recorded on the cards. Once all data has been entered into the system, new
PRC’s are printed.

These PRC’s are then given only to qualified appraisers who will proceed in a final review.
During review, the appraiser shall formulate the final value estimates based upon careful
consideration of all features of the property and all factors having effect upon the value of
the property.

56
DESCRIPTIVE GUIDELINES: REAL/PERSONAL

REAL PERSONAL DESCRIPTION

XX Air Conditioning – Building
XX Air Conditioning – Manufacturing/Produce
XX Air Conditioning – Window Units
XX Airplanes
XX Alarm Systems (security or fire) to include wiring
XX Asphalt Plants
XX ATM – All Equipment & Self Standing Units
XX Auto Exhaust System for a Building
XX Auto Exhaust System for Equipment
XX Awnings
XX Backup Power Source – Any Type (does not include
Generators)
XX Balers (paper, cardboard, etc.)
XX Bank Teller Counters – Service & Other Areas
XX Bank Teller Lockers – Moveable or Built-In
XX Bar and Bar Equipment – Moveable or Built-In
XX Barns – Tobacco Bulk
XX Billboards (all types)
XX Boatlifts
XX Boats & Motors – All
XX Boiler – for the service of a building
XX Boiler – primarily for use in a process
XX Bookcases-Movable or Built-In
XX Bowling Alley Lanes
XX Broadcast Equipment
XX Construction in Process Equipment
XX Cabinets (not built – in)
XX Cable TV Distribution Systems
XX Cable TV Equipment & Wiring
XX Cable TV Subscriber Connections
XX Camera Equipment
XX Canopies – Fabric, Vinyl, Plastic
XX Canopies – Generally Metal or Wood
XX Canopy Lighting
XX Car Wash – All Equipment, Filters, Tanks
XX Carpet – Installed
XX Catwalks
XX Cement or Concrete Plant Holders
XX Chairs – All Types
XX Closed Circuit TV Systems
XX Cold Storage (External) – Equipment Rooms
XX Compressed Air/Gas Systems (not building heat)

57
REAL PERSONAL DESCRIPTION
XX Computer Room Air Condition Units
XX Computer Room – Raised Floor
XX Computer Scanning Equipment
XX Concrete Plants
XX Computers and Data Lines
XX Construction and Grading Equipment
XX Control Systems – Building and Equipment
XX Conveyor & Material Handling Systems
XX Coolers – External Walk-In or Freestanding
XX Cooling Towers – Primarily Used for a Building
XX Cooling Towers – Primarily Used in Manufacturing
XX Counters/Reception Desks – Moveable or Built-in
XX Dairy Processing Plants – All Process Items
XX Dance Floors
XX Data Processing Equipment – All Types
XX Deli Equipment
XX Desks – All
XX Diagnostic Center Equipment – Moveable/Built-in
XX Display Cases – Moveable/Built-in
XX Dock Levelers
XX Drapes, Curtains, Blinds, etc.
XX Drinking Fountains
XX Drive-thru Windows – All Types
XX Drying Systems – Used for Processing/Production
XX Dumpsters
XX Dust Catchers, Control Systems, etc.
XX Electronic Control Systems
XX Elevators
XX Escalators
XX Farming Equipment – All
XX Fencing – Inside
XX Fencing – Outside
XX Flagpole
XX Flooring-Raised, Padded, Special Purpose
XX Foundations for Machinery & Equipment
XX Freight Costs – As a Part of Cost
XX Fuels – Not for Sale (List as Supplies)
XX Furnaces – Steel Mill Processing, etc.
XX Furniture & Fixtures – All
XX Gazebos
XX Generator - Residential Backup (hard wired to home)
XX Generator – Commercial Backup
XX Golf Course – Including Drainage/Irrigation System
XX Grain Bins

58
REAL PERSONAL DESCRIPTION
XX Greenhouse – Benches, Heating System, etc.
XX Greenhouse – The Structure, Permanently Affixed
XX Heating System – for a Process or Production
XX Hoppers – Metal Bin Type
XX Hospital systems – Equipment & Piping
XX Hot Air Balloons
XX Hotel/Motel Televisions and Wiring
XX Humidifiers – for a Process or Production
XX Incinerator Equipment
XX Industrial Piping – Used for Process/Production
XX Installation Costs – As a Part of Cost
XX Irrigation Equipment-portable
XX Irrigation Equipment-in ground
XX Kiln - Heating System
XX Kiln – Metal Tunnel or Moveable
XX Laboratory Equipment
XX Lagoons and Settling Ponds
XX Laundry Bins
XX Law & Professional Libraries
XX Leased Equipment – Lessor or Lessee Possession
XX Leasehold Improvements (must be listed in detail)
XX Lifts – Other Than an Elevator
XX Lighting – Portable, Moveable and Special
XX Lighting – Specifically for a Parking Lot/Yard
XX Machinery & Equipment
XX Manufactured home which meets the criteria to be
classified as real estate as set forth in
NCGS 105-273(13)
XX Manufactured home which does not meet the criteria
to be classified as real estate as set forth in NCGS
105-273(13)
XX Medical Equipment
XX Milk Handling – Milking, Cooling, Piping, Storage
XX Millwork
XX Mineral Rights
XX Mirrors – Except those in a Bathroom
XX Monitoring systems – for Building and Equipment
XX Newspaper Stands
XX Night Depositories
XX Office Equipment – All
XX Office Supplies - (list as supplies)
XX Oil Company Equipment – Pumps, Supplies, etc.
XX Ovens – Used in Processing/Manufacturing
XX Overhead Conveyor Systems

59
REAL PERSONAL DESCRIPTION
XX Package and Labeling Equipment
XX Paging Systems
XX Paint Spray Booths
XX Partitions or Dividers
XX Paving
XX Piping Systems – Process Piping
XX Playground Equipment – All
XX Pneumatic Tube Systems
XX Portable Buildings
XX Power Transformers – Equipment
XX Public Address Systems – Intercom/Music, etc.
XX Railroad Sidings (other than Railroad owned)
XX Refrigeration Systems – Compressors, etc.
XX Repairs to a Building
XX Repairs to Equipment which are 50% of cost
XX Residential Lift - External
XX Restaurant Furniture
XX Restaurant/Kitchen Equipment – Hoods, Sinks, etc.
XX Returnable Containers
XX Roll Up Doors – Inside Wall
XX Roll Up Doors – Outside Wall
XX Roofing
XX Room Dividers/Partitions – Moveable or Built-in
XX Rooms – Self-Contained or Special Purpose
XX Safes – Wall or Free-Standing
XX Sales/Use Tax
XX Satellite Dishes – All Wiring/Installation
XX Scale Houses (Unless Moveable)
XX Scales
XX Security Systems
XX Service Station Equipment – Pumps, Tanks, etc.
XX Sewer Systems
XX Shed/Storage Building- Not on Permanent
Foundation (skids)
XX Shed/Storage Buildings- >100 sq. ft. on Permanent
Foundation
XX Shelving
XX Signs – All - Including Attached to Buildings
XX Sinks – Bathroom
XX Sinks – Kitchen Areas
XX Software – Capitalized
XX Solar Equipment-Used to Heat & Cool Building
XX Solar Equipment-Photovoltaic & Solar Thermal
XX Solar Farm-Electricity Generation

60
REAL PERSONAL DESCRIPTION
XX Sound Systems & Projection Equipment
XX Spare Parts – List as Supplies
XX Speakers – Built-in or Free Standing
XX Spray Booths
XX Sprinkler System – used to protect specific item
XX Sprinkler System – Building
XX Supplies – Office and Other
XX Swimming Pools- in ground
XX Swimming pools-in ground type supported by above
ground structure/supports
XX Swine House Finishing Floor
XX Swine House Topping Floor
(In the absence of segregated costs, personal property
will be allocated on a 60/40 or 70/30 real/personal
basis per NCDOR guidelines)
XX Tanks – Above or Below Ground
XX Telephone systems & Wiring – Private

XX Theatre Screens – Indoor

XX Theatre Screens – Outdoor
XX Theatre Seats

XX Tooling, Dies, Molds

XX Towers – Microwave/Equipment/Wiring/Fndt
XX Towers – TV/Radio/CATV/Two-Way/Wiring/Fndt

XX Transportation Costs – All

XX Tunnels – Unless Part of a Process System
XX Upgrades to Equipment
XX Vacuum System – Used in Process/Production
XX Vault
XX Vault Door, Inner gates, Vents, and Equipment
XX Vending Machines
XX Vent Fans
XX Ventilation System – Part of Central Cooling Sys
XX Ventilation System – used in Manufacturing Process
XX Video Tapes/Movies/Reel Movies
XX Wall Covering
XX Water Coolers – All
XX Water Lines – Used in Process
XX Water Systems – Residential or General Building
XX Water Tanks/Systems – used with processing Equip
XX Whirlpools/Jacuzzis/Hot Tubs
XX Wiring – Power for Machinery & Equipment

61
 STRUCTURE CLASSIFICATION

CLASSIFICATION: In general, structures can be classified much in the same manner as

motor vehicles in their basic form; namely, for the design or purpose of which the motor
vehicles were constructed. You would not classify a bus as an automobile because a family
used the bus for day-to-day travel. Therefore, you should not classify a single-family
residence as an office because a Realtor uses the structure as a sales office.

In valuing structures by the cost approach, in most cases, a structure should be priced for
cost purposes by the way it was designed and purpose for which it was constructed.

Design – Affects Costs

Use – Affects depreciation and functional obsolesce

The accuracy of an appraisal largely depends upon the selection of the property
classification.

Proper classification is important in selecting the property-pricing schedule to arrive at the

replacement cost. Each classification has a unique pricing schedule.

For Structure Classes see PAGE 66

For Structure Pricing see PAGE 90

62
 GRADE OF CLASSIFIED STRUCTURE

GRADE FACTORS: Classified structures can be graded much in the same manner as
automobiles in their basic form; namely by quality of workmanship and material which, in
turn, reflects value and marketability.

Learning to properly grade structures requires at least a basic knowledge of construction—

what is good, or what is bad. It requires knowledge of what materials, when assembled
into various parts of a structure, form expensive or inexpensive construction. It requires
the ability to recognize the difference between good and bad workmanship.

The accuracy of the grade is important. Grade reflects quality. Quality represents
workmanship and the type of materials used. Quality workmanship and materials reflect
value. Replacement cost is basically the initial processing point of all appraisals. Quality
grading is important in adopting the proper sub-classification in the pricing schedule to
arrive at the replacement cost.

Structures may be constructed from the same basic plan, each offering the same facilities
and with the same features, but with widely varying cost due to the quality of materials and
workmanship used in their construction. A structure constructed of high quality and with
the best of workmanship throughout may be more than twice the cost of one built from the
same floor plan with inferior materials and workmanship.

The majority of structures erected fall within a certain type of construction consisting of
average quality workmanship and materials. This type of structure, being most common
can easily be distinguished. Consequently, above average quality of construction or poor
quality of construction can be comparatively observed. The quality grading system in this
manual is keyed to this obvious condition.

The basic grade, therefore, reflects cost of construction with average quality workmanship
and materials involved and are designated as Grade “C”. The five- (5) grades of quality
for all structural classifications are:

Grade “A” – Excellent Quality

Grade “B” – Good Quality (Above Average)
Grade “C” – Average Quality
Grade “D” – Fair Quality (Below Average)
Grade “E” – Poor Quality (Sub-standard)

Grades would be a simple process if all structures were constructed to conform to the base
specifications outlined in this manual and with a normal cost variance.

63
Since this condition does not exist, it is necessary to further improve our grading system.
It is typical for conventional structures to be built of construction qualities that fall in
between these developed grades. If the structure that is being appraised does not fall
directly into a certain grade, but should categorized as slightly better, or slightly poorer,
than the specific grade, the use of the (+) symbol or (-) symbol will adjust the base
replacement cost of the structure. This +/- procedure may be utilized throughout the range
of structure as required.

It is very important not to confuse quality and condition when adopting rates for older
structures in which a deteriorated condition may have an obvious effect on their
appearance. Correct grades must represent replacement cost as new structures. A building
will always keep its original grade regardless of its present physical condition.

Refer to the Grade Specifications and Illustrations in this manual for differences in features
and quality construction for each grade as related to single-family dwellings.

COMMERCIAL GRADING – Commercial Grades are determined using a combination of

Quality of Construction and potential income.

64
 RESIDENTIAL BUILDING CLASSIFICATION

GRADE “E”

This is the lowest quality type or class of structure that can be called a residence. Usually,
it is a one-story, square or rectangular building of simplest design, ranging in size from 200
to 800 square feet.

Such structures are generally found in the older and poorer sections of the community and
outlying unrestricted areas.

Dwellings of this category fall well below minimum requirements of building codes and
mortgage lending agencies. Financing, if any, is handled by individuals at higher than
prevailing interest rates. They are seldom built according to any plans or specifications;
frequently are owner built or with some outside assistance, on ungraded lots. Trim or other
decoration is non-existent. Materials are of low grade and workmanship crude.

65
66
 RESIDENTIAL BUILDING CLASSIFICATION

GRADE “D”

This is the modest, inexpensive type residence. Houses of this class are one, one and half
and sometimes two-story structures, including cottages, garage apartments, small duplexes,
and apartment buildings of three units or less and tourist court cabins. The typical house
in this category is square or rectangular and will range in floor area between 400 and 1200
square feet.

Residences in this bracket are usually located in residential areas where zoning and deed
restrictions are liberal or nonexistent. Maintenance is poor to average.

Such buildings generally conform with minimum building code regulations and are often
constructed on a mass production bases, either of mill quarters or lower quality residential
developments. They do not meet a minimum FHA or VA requirement for loan purposes
and most insurance and savings and loan companies are skeptical concerning this type of
financing.

From an architectural standpoint, their design is simple and decoration plain. They are of
a sturdy construction, usually built from plans prepared by carpenters or small builders.
Often the owner does some of the work. Materials are of low to medium grades and the
quality of workmanship poor to fair. The typical building of this class is wood construction
and both foundation and framing meet with minimum engineering practices. Exterior walls
consist of medium grade weather boarding, nailed to properly placed studs, or asbestos
siding over cheap sheathing. The trim around corners, windows, doors, and gables is
simple and roofing a cheap grade of composition shingles. Interior floors are average grade
of pine laid directly on the joists. Partitions consist of studs finished on both sides with
either two coats of plaster or drywall or inexpensive wallboard.

Doors and windows are good, but inexpensive stock wood patterns.

Plumbing fixtures are of the cheapest grade, and the bath fixtures are set in wood floor.
Heating is by stove and flue, or inexpensive fireplace and chimney. Electrical wiring is
also inexpensive, with wall switches, a few outlets, and cheap fixtures. Built in equipment
includes small closets and kitchen cabinets of simple type, drain boards and a cheap water
heater.

67
68
 RESIDENTIAL BUILDING CLASSIFICATION

GRADE “C”

Here we have the type of residence, which comes nearer to being the average or standard
class for the entire county than any other. Included in this category are one, one and one-
half or two-story houses, duplexes, garage apartments, apartment houses, condominiums,
town homes, and tourist court cottages of similar construction. Typical buildings of this
classification are average bungalows and two-story residences. They range in size from
approximately 500 to 2000 square feet.

Generally, they are located in any average to good residential section where property is
minimally restricted and/or zoned for average single-family dwellings. They are occupied
by families in the medium income bracket and, in most instances, are owner occupied. The
neighborhood reflects pride of ownership in maintenance and appearance.

Structures of this classification meet all building code requirements and mortgage loan
standards, both governmental and private. They represent the attractive, well-designed,
and well-built average American home. Occasionally, architect designs one, but
contractors who use quality materials, good craftsmanship and supervise the work build
the majority from stock plans. Such houses are typical of medium-priced housing
developments constructed by local builders and real estate sub-dividers.

The typical house of this class is constructed of wood or brick, and in some areas, of
concrete block. The foundations, wall, and roofing meet with sound engineering practices.

Exterior walls consist of good grade weather boarding nailed to sheathing and neatly
trimmed around the corners, gables, doors, and windows. Other types of wall may be
substituted provided they conform to good construction and the remainder of the building
is unchanged in quality. Flooring is of a high-grade pine laid on resin paper over sub-
flooring or low-cost hardwood over sub-flooring. Partitions consist of studs usually
covered with drywall or plaster one each side, painted, with decorative trim or equal.
Windows are either good medium grade of stock wood patterns or any inexpensive grade
of steel. Doors are of a good grade of wood pattern.

Plumbing is of a medium-grade and bath fixtures are set in sheet vinyl or tile floors.
Heating is by hot air furnace or heat pump. Electrical wiring is adequate to provide ample
wall switches and outlets and electrical fixtures are medium grade. Built-in equipment
includes adequate clothes and storage closets, medicine cabinet, built-in kitchen cabinets,
drain boards and water heater.

69
70
71
 RESIDENTAIL BUILDING CLASSIFICATION

GRADE “B”

This is the good, better than average residential classification. Included are one, one and
one-half, two and two and one-half story houses, garage apartments, duplexes, apartment
houses, condominiums, and town homes all of similar construction. Typical buildings of
this class are good bungalows and two-story residences. They range in area from 800 to
2200 square feet.

These homes are located in the better-than-average neighborhoods, which are zoned for
and often restricted to larger, more expensive dwellings. Lots are generally fairly large
and subdivisions well planned. For the most part, they are owner occupied and pride of
ownership is much in evidence. Maintenance is of a better quality and workmanship of a
skilled nature. Attractive ranch-type houses and the so-called “modern” houses, with
varying floor levels, fall into this category.

Exterior walls consist of high-grade weather boarding or equal, laid on felt and sheathing,
expertly trimmed about the corners, gables and around the doors, windows, eaves, and base
of the house. Brick and hollow tile may be used, if of good quality and workmanship.
Also, concrete blocks may be used in some areas, but only if the walls are furred. Roofing
is usually the best grade of composition or asbestos shingles.

Floors are of good grade hardwood, carpet, or tile. The partitions consist of studs with
drywall or three coats of plaster on each side, with decorative trim, and at times, some
paneling. More windows are usually found in a structure of this type than in the average
house, made of a high grade of standard wood or a medium grade of steel or aluminum,
casement type. The doors are of medium high-grade wood pattern.

72
73
74
 RESIDENTIAL BUILDING CLASSIFICATION

GRADE “A”

Residences of the excellent type are slotted in this classification. Included are one, one and
one-half, two and two and one-half and three-story houses, garage apartment,
condominiums, town homes and some high-grade duplexes, and tourist courts, all of
similar construction. Buildings in this category represent the best quality found in homes
built of ordinary materials. They range in size from approximately 1000 to 5000 square
feet.

These homes are located in the highest-class residential sections, which are zoned for and
restricted to highest residential use. Lots are generally large and professionally landscaped.
Owners are in the high-income group.

Buildings of this class more than fulfill all requirements of building codes and property
location surpasses all standards of mortgage loan agencies. They are custom designed and
built for the owners. Planning usually includes adaptability to the site. Materials are of
the best grade of ordinary materials and craftsmanship high skilled, with architectural
supervision. Extra conveniences and decorations are common in this classification.

Exterior walls consist of the highest-grade siding laid over felt and sheathing, often
insulated, solid brick or hollow tile. They are properly and ornately trimmed about corners,
gables, eves, entrance, and base of the house and around the doors and windows, usually
following a custom plan of decorative design. The foundation and frame conform to best
engineering practices. Roofing is of a high quality.

Typical floors are high-grade hardwood, carpet, marble, or tile over good sub-flooring.
Partitions consist of studs, plastered on both sides with high class three coat plaster or
drywall and panel. The trim is excellent and decorative; often including variation of
finished panel walls, custom fireplace, glass enclosed rooms and other features.

Windows are the best grade wood pattern, or the better grades of steel or aluminum and
doors are high grade or custom wood patterns. High-grade plumbing fixtures are used
throughout and connections for modern appliances evident. Bathrooms have tile floors and
walls. Heat is provided by automatic hot water or steam furnace, radiators, and heat pumps
with air conditioning. The electrical system is of the highest grade, including expensive
fixtures or an incandescent or fluorescent type. Adequate switches and outlets are evident.
Built-in equipment includes custom clothes closets and ample storage space, frequently
cedar lined; utility rooms, bookcases, kitchen cabinets and large water heaters.

75
76
77
 DEFINITIONS
OF
CONSTRUCTION CLASSES

(1) Ranch - A term used broadly for many one-story houses that are wider than
they are deep.

(2) Bi-Level - Two story construction with a split-foyer entrance and is built with
a partially finished lower level that is similar to a basement. The
lower level typically includes plumbing and electrical rough-ins and
some partition walls for recreation room, bedroom, laundry room,
and bathroom.

(3) Split-level - A house that has different levels, but no level is one complete story
higher than another.

(4) Conventional- This refers to the typical house in an area that does not fit one of the
other more precise construction styles.

(5) Contemporary- Very modern in appearance, more glass and irregular roof lines.
Often open inside and most likely to be found in the newer
subdivisions.

(6) Colonial - A colonial American house style that evolved from the Cape Cod
style. The New England style is a large room, two- and one-half
stories, rectangular or square, box-shaped house. It usually has side
or rear wings and traditionally has clapboard siding and double hung
windows with shutters the same size as the windows, elaborate
cornices with dental, and a central hallway on the first floor running
from front to rear.

(7) Cape Cod - An American house style first built on Cape Cod, Massachusetts. It
is small, symmetrical one- and one-half story compact house with a
steep gable roof covered with shingles and is the earliest dwelling
type built by the colonists that is still popular today.

(8) Cottage - Typically small with fairly modest features and often used as a
residence during a particular season of the year.

(9) Bungalow - A small house or cottage, usually with one or one and one-half
stories.

78
(10) Farm - Usually found in the country with a 2-story section, in front with a
long narrow rear addition often used as a kitchen. A difference in
the quality and condition of these homes are not uncommon because
many have been neglected and others have been modernized and are
very nice.

(11) Modular - Although a modular house can be transported on a steel under-

carriage, the undercarriage is not a permanent and necessary
structural component and is usually removed when placed on a
foundation.

(12) Single Section – Sixteen feet wide or less and moved as one unit.
Manufactured Home

(13) Multi Section – Twenty feet wide or larger and moved in two or more sections.
Manufactured Home

Manufactured - Are residential structures built on a steel undercarriage with

Homes necessary wheel assembly to be transported to a permanent or semi-
permanent site. The wheel assembly can be removed when placed
on a permanent foundation, but the steel undercarriage remains
intact as a necessary structural component.

(14) Log - Log home come in many styles, shapes, and sizes. One thing they
all have in common is the exterior siding is log. Log homes can
consist of any grade.

(15) Victorian - Features symmetrical arched bay windows that protrude in front,
and fancy exterior trim work. Generally dates from 1865 to 1920.

(16) Tudor - The Tudor is an imposing looking house that resembles a fortress.
It is usually two- and one-half stories high, and its siding is mainly
made of stone and brick. Bays and turrets, casement windows with
leaded glass and high chimneys, characterize them. A Tudor’s
interior is usually filled with nooks and crannies, large fireplaces,
and beamed ceilings.

English - Features a combination of stone siding and timber trim over stucco
Tudor walls.

(24) Beach Cottage-A generic term for many part time vacation residences built along
coastal or water resort areas. Generally the unit is raised above ground on wood
pilings.

79
(25) Condominium-An apartment in an apartment building in which the apartments are
owned individually.

(26) Town House – One of a row of houses connected by common

sidewalls, usually two stories with the bedrooms on the second floor.

(27) Duplex - Two houses or apartments joined by a common wall.

(28) Special - Special designed building like Churches and

Courthouses’, etc.

(29) Prefab. Metal – A structure with the exterior made from

prefabricated metal.

(32) Conversion- Basically a commercial building that has been converted to a

residential building.

80
 DEFINITIONS

OF

STRUCTURAL TERMS

FOUNDATION - The part of the structure on which the structure rests. It includes all
construction, which transmits the loads of the structure to the earth. It may be in many
forms, but for use with this system applies only to the following: (DOES NOT ADD
VALUE)

• 01 – Slab Masonry on ground or very near ground level, sometimes referred

to as concrete.

• 02 – Concblck (Concrete Block) A solid masonry wall, built typically with one or
two rows of concrete block and mortar.

• 03 – Brick A solid masonry wall, built of brick and mortar.

• 04 – Stone A solid wall, built with stone and mortar.

• 05 – Wood A wall built with wood.

• 06 – Contwall (Continuous Wall) Meaning that the foundation, whether it be

masonry or wood, continues around the perimeter of the buildings.
Often instead of showing continuous wall we will use the term
Brick, Stone, Concrete Block or Frame to more specifically
describes the construction of the foundation.

• 07 – Pier The short individual wood, concrete or masonry foundation supports

for the post and girder underpinning of a raised floor structure.

• 08 – Pilings Columns extending below the ground to bear the loads of a structure,
most often used in beach and/or waterfront construction due to
elevation requirements.

81
EXTERIOR FINISH – are defined as the materials involved in the walls or external
vertical perimeter of a structure.

• 01 - Frame Denotes any type of wood framing with or without sheathing and
wood siding. No effect on value

• 02 – Brickven Brick Veneer is a non-load-bearing single tier of brick applied to

wall made of other materials. Adds value

• 03 – Brk /Frm Brick/Frame is a brick and wood exterior. Adds value

• 04 – Concblk Concrete Block is a solid masonry block (Cinder Block). A

lightweight block using cinders as the coarse aggregate to achieve
lightness. Sometimes used as a generic term for all lightweight
block. Deduction to value

• 05 – Stucco/Bl Stucco/Block is a wall of concrete block with cement stucco applied

to the exterior creating a textured surface. Stucco is a coating in
which cement is used for covering walls and is put on wet, but when
dry it becomes exceedingly hard and durable. Adds value

• 06 – Stucco/Fr Stucco/Frame is a type of wall, which is formed by applying cement

stucco to a framework of wood with wire or wood lath. Stucco is a
coating in which cement is used for covering walls and is put on wet,
but when dry it becomes exceedingly hard and durable. Adds value

• 07 – Stone Refers to various good stone or stone veneers, usually on masonry.

Adds value

• 08 – Modmetal Modular Metal refers to the type walls used in mobile home
construction and other similar prefab metal walls. Deduction to
value

• 11 – Alum/Vnl Aluminum/Vinyl is a flat or corrugated aluminum or vinyl fastened

to a wood or metal frame as direct replacement or cover for
horizontal wood siding. No effect on value

• 13 – MetlGlas Metal/Glass is a glass sandwich designed for use on exterior walls.

Usually tinted and with an aluminum or metal framing system. This
normally occurs only on large commercial buildings. Adds value

82
• 16 – Asbshngl Asbestos Shingles refers to asbestos shingles laid over wood frame
with sheathing. The principle composition of these shingles is
asbestos, which is a mineral fiber occurring in long and delicate
fibers of fibrous masses. It is incombustible, non-conducting and
chemically resistant. Typically these shingles are hard and brittle in
nature with a noticeable grain or texture. Deduction to value

• 17 – Roll Comp Composition refers to composition siding, which comes in varied

thickness and rolls, and is usually fastened over wood framing by
nailing. Can be any of the various man-made materials on wood or
metal framing such as “Homosote”, or “Cleotex”, or other trade
name products. These must be treated or painted to withstand
weather. Generally inexpensive construction. Deduction to value
• 18 – WD Shngl Wood Shingles are usually Cedar or Redwood shingles and usually
appears on expensive homes. The irregular shaped cedar shakes
being the most expensive. Adds value
• 19 – Bd & Battn Board & Batten refers to sheathing placed on walls in a vertical
position with joints covered by narrow wooden strips called batten.
No effect on value

• 20 – Side Shet Side Sheathing is usually in the form of 4x8 panels positioned
vertically over sheathing. Example (T1-11) No effect to value

• 21 – Cedarsup Cedar Siding or panel siding normally unfinished or naturally

stained, which is desirable because of color and maintenance free
characteristics. Usually the lap siding has above average excellent
type construction. Adds value

• 22 - Permston Perm-stone refers to an artificial stone appearance over wood or

masonry framing. Adds value
• 23 – Log A solid wall construction using 5” to 6” diameter logs with tongue
and grove, peeled to a clean wood finish, and spiked or doweled
using weather sealant or caulking. Adds value
• 25 – Cedarshk Cedar Shakes are shingles split (not sawed) from a bolt of wood and
installed by individual shingles. Adds value

• 26 – HDBoard Hardboard is a highly compressed wood fiberboard, which may be

a lap or sheeting siding. Adds value

• 27 – Sandwich Any wall panel constructed in three layers. Examples are: two
sheets of plywood with insulation between, metal one side, gypsum
board on the other and insulation between, metal on both sides with
insulation between, etc. Deduction to value

83
ROOF TYPE – has two meanings; the shape (see “Roof Shapes”) and the framing
involved.

ROOF SHAPES

• Single Pitch – (Gable Roof) a ridged roof that slopes up from only two walls. A gable
is the triangular portion of the end of a building from the eaves to the ridge.

• Hip - the hip roof is usually pitched in four directions.

• Flat - a flat roof refers to a structural material, which spans a horizontal or nearly
horizontal position from wall to wall or beam to beam.

• Gambrel –a type of roof which has its slope broken by an obtuse angle, so that the
lower slope is steeper than the upper slope; a roof with two pitches such as
is common on a barn.

• Double Pitch – the slope of the roof in two directions.

• Monitor - a narrow gable or shed roofed structure built on to the roof of a building
with the function of providing light and ventilation through its sides. The
narrow structure on top of grain tanks, housing conveyors and equipment.

• Dome - A hemispherical (a half of a sphere bounded by a great circle) roof.

• Sawtooth- a roof, which is formed of a number of trusses having unequal slopes. When
viewed from the end, such a roof presents a serrated profile similar to the
teeth of a saw.

• Mansard - a roof with two slopes, the lower slope very steep, the upper slope almost
flat.

• Arched – a large, curved truss common to airplane hangars and Quonset huts.

84
ROOF MATERIALS – may be better called “roofing” since this is the finished or wearing
surface of a roof.

• Asphalt - a type of shingle made of felt saturated with asphalt or tar pitch and surfaced
with mineral granules or inorganic fiberglass saturated with asphalt and
surfaced with ceramic granules. There are many different patterns, some
individual and others in strips, which are included under the heading of
Composition Shingles.

• Asbestos –shingles made of rigid, fireproof asbestos products, which come in

individual shingles and are fastened down in the same manner as wood or
composition.

• Tile - a thin, flat, or convex slab of material such as baked clay, laid in rows.

• Metal - shingles with enamel coating. This type of shingle is usually predrilled and
fastened down by nailing to some type of sheathing or strips.

• Wood - shingles are usually cedar or redwood, and usually appear on more
expensive homes.

• Slate - a fine-grained metamorphic rock that splits into thin, smooth-surface layer,
normally a dark gray to bluish gray, to dark bluish or dark purplish gray.
These are fastened down to sheathing or strips. Usually appear on very
expensive homes.

• Roll - a roofing material consisting of asbestos, felt saturated with asphalt and
assembled with asphalt cement, which comes in rolls and is fastened down
to a wood, composition or gypsum decking and tar and nails.

• Built-up - gravel embedded in tar and is hot mopped over various types of
composition, concrete, metal, or gypsum roofing. This product requires a
very low pitched of flat shape. Built-up refers to the building up of
waterproof layers with the mopped tar.

• Fiberglass-a composite material of glass fibers in resin. These are pliable shingles,
which are fastened down by nailing to some type of sheathing.

• Tar and gravel-roof material made of tar and gravel and is hot mopped over various
types of composition, concrete, metal, or gypsum roofing.

• Concrete - is formed from lightweight cement and/or gypsum products to give

appearance of a heavy, wide lapped roof.

• Terra Cotta- A hard-burned unglazed clay usually molded into shapes for
ornamentation of structural surfaces.

• Porcelain - A highly vitrified glazed surface heat-bonded to a metal surface.

85
FLOOR FINISH MATERIALS – include both the sub-flooring (if any) and the finished
floor or wearing surface.

• Softwood- the wood of any various predominantly evergreen cone bearing trees, such
as a pine, spruce, hemlock, or fir.

• Hardwood-the wood of a broad-leaved flowering tree.

• Concrete – either plain or reinforced poured on tamped fill or on the ground.

• Tile - a thin, flat, or convex slab of material such as baked clay or plastic, laid in
rows to cover floors.

• Carpet - a thick, heavy covering for a floor, usually made of wool or synthetic fibers.

• Unfinished-no product is used on the floor surface.

• Terrazzo- a flooring surface of marble chips in concrete. After the concrete has
hardened, the floor is ground and polished to expose the marble chips. In
epoxy terrazzo, the concrete filler material is replaced with plastic.

• Vinyl - a tough, strong, non-crystalline, thermoplastic tile which is available in

many colors and textures.

• Marble - a metamorphic rock, chiefly calcium carbonate, set in grout on concrete.

• Brick - a molded, rectangular block of clay baked until hard, set in grout on
concrete.

• Heart Pine – floor finish from the heart of a pine tree.

86
INTERIOR FINISH – products used to finish the interior and to form inner partitions.

• Drywall - is a product of plaster with paper surfaces. It is fastened to studding or

furring strips and requires a seal where joints occur, and only painted as a
finish. It has become popular due to ease of installation and also, due to the
fact that no plastering, as such, is necessary.

• Panel - plywood veneers or solid hardwoods in tongue and grove, which are interior
finishes.

• Plaster - Portland cement mixed with sand and water to form a mortar like
consistency used for covering walls and ceilings.

• Fiberboard-A general term applied to sheets of material made from wood or other
vegetable fibers, having some insulating qualities and usually as wall
sheathing.

• Acoustic - a ceiling designed to lessen sound reverberations: by absorption, blocking,

or muffling. In construction, the most common materials are acoustical tile
and acoustical plaster.

• Unfinished-means that either no product is used or that the interior is painted only and
that no partition work exists.

• Other - any other finishes that is not defined on the Onslow County Code Sheet.

• Metal Panel - Paneling made of metal.

• T & G Wood – any joint made by one member with a projecting tongue fitting into
another member with a matching groove.

• Brick - a molded, rectangular block of clay baked until hard, applied with mortar.

• Painted Block-either concrete or cinder block that has been painted.

• Pineceiling - either plain wood boards or narrow “beaded ceiling” boards of pine.

• Minimum- either unfinished or the very minimum of interior finish.

• Tile - a thin, flat, or convex slab of material such as baked clay or plastic, laid in rows
to cover walls.

• Vinyltrim - trim made of vinyl.

87
HEATING and COOLING SYSTEMS are described in this section. Three lines are available in the
computer system, each allow additions in value.

• Heat Pump-this is a self-contained, reverse cycle, heating and cooling unit. On its cooling cycle it works
like an air conditioner, collecting heat from inside and pumping to an outside coil where it
is dissipated. On the heating cycle, heat is collected by the outside coil and pumped inside.
Adds Value

• FHA - Forced-Air Heating is a warm-air heating system in which circulation of air is affected by
a motor-driven fan. Such a system includes air-cleaning devices and the ductwork. Adds
Value

• Hot-water-the circulation of hot water from a boiler through a system of pipes and radiators or
convectors, either by gravity or a circulating pump, allowing the heat to radiate in the room.
Adds Value

• Electric BB-Electric Baseboard refers to an electric heater installed as a baseboard along a wall. Adds
Value

• Radiant Electric-a system in which space is heated by the use of concealed electric resistance wires
normally placed in the floor or ceiling allowing the heat to radiate into the room. Adds
Value

• Floor Furnace-a metal, box-like, warm-air furnace that is installed underneath the floor, having one
grilled duct, but not a ducted distribution system. Adds Value

• Wall Furnace-a metal, box-like, warm-air furnace that is installed in the wall having one grilled duct,
but not a ducted distribution system. Adds Value

• Wood Stove-a special stove in which wood is used to furnish heat. No effect on value

• Unit - A unit air conditioning system, self-contained, usually placed in a window, although,
sometimes placed in an exterior wall. No effect on value

• Steam - This heating system uses radiators in the rooms to heat the steam or vapor being delivered
from boiler to radiators through one of several arrangements of piping. The one-pipe
gravity system is widely used for smaller installations. The two-pipe system or vapor
system is used for larger installations. Adds Value

• Solar A system using solar collectors for the absorption of solar radiation to heat water to be used
in heating a structure. Adds Value

• Central AC-refers to a central cooling system with ductwork, thermostats and forced cold air. Adds
Value

• None - Refers to structures that have no source of heat or air conditioning. No effect on value

• Hot Water Heat-Pump-uses water to create a reverse cycle refrigeration unit, which can be used for
heating or cooling. Adds Value

• FHA Air-Conditioning-a cool air system in which circulation of air is affected by a motor driven fan.
Such a system includes air-cleaning devices and the ductwork. Adds Value

• Unit Heat Pump-a unit system, self-contained, has both heating and cooling elements, usually placed in
a window, although, sometimes placed in an exterior wall. Adds Value

88
 2022 COMMERCIAL STRUCTURE DEFINITIONS

Use Code Use Code Description

01: Dwelling/Living
Built-in apartment or living space. Usually one single-unit
Area
03: Apartment Building/Complex with Multiple Apartments (Living Units)
08: Hanger Airplane or large equipment storage building
09:Fitness Club Stand-alone fitness facility like a tennis club, swim club, or full fitness facility
Retail locations such as Dollar Tree, Family Dollar, Dollar General. They
11: Retail I
provide a wide variety of retail items and are typically stand-alone
12: Retail II Secondary type retail typically located with a city or town limits
General use, light industrial facility. Can be a mixture of warehouse and light
13: Industrial
assembling/manufacturing
Used for storage of equipment and materials only. No manufacturing or
14: Warehouse fabrication would occur here. Can be either climate controlled or non-climate
controlled
15: Armories Large military or local government buildings. Usually for National Guard
Independent restaurant buildings. This category would also include
16: Restaurant/Lounge
nightclubs, but not large chain restaurants
17: Bar/Tavern Minimal to no food served. Nearly all beer, wine, and liquor served
18: Post Office Post Office
19:Supermarket Large grocery stores
Professional office buildings. Can be multi-story, multi-tenant, or single-
20: Office I
tenant, single-story buildings
Health Care facility that can be large but is typically less than three stories. It
21: Medical Center
can be used for doctors office and out-patient care
22: Gov't Building Building for government offices
Large, typically multi-story, health care facility. Includes surgery, maternity,
23: Hospital
in-patient, and emergency services
24: Vet Clinic Buildings for animal health care
25: Library Municipal library facilities
26: Bank/Savings National, Regional, and Local Credit Unions along with other lending
Institution Institutions
27: Fire/Rescue Station Municipal fire stations
28: Jail Municipal Jail facilities
29: Retail IV Retail IV is sometimes used for a downtown location
30: School Public and private learning facilities with multiple grades and classrooms
31: Religious Institution Any type of facility used in conjunction with religion
Large building used as gathering places typically for presentations. Usually
32: Auditorium
located in schools, colleges, or municipal buildings
33: Theater Facilities constructed for movies/Cinemas. Not live theatre.
34: Social/Fraternal Hall Masonic, Rotary, Shriners type of building and meeting places
35: Health Spa Facilities used for massages, manicures, pedicures, facials, etc

89
36: Day Care Child care facility for birth- kindergarten
Office improvements that are secondary type offices and typically located
37: Office II
with a city or town limits
38: Office III Office improvements usually in rural locations
Elderly care that is group living with minimal to no independent living.
40: Nursing Homes
Usually include skilled nursing for each resident
42: Club House Meeting areas/Common areas for apartments, tennis clubs, golf clubs, etc.
43: Industrial Small shop/maintenance/utility buildings. Typically a secondary use on a
Maintenance property not the primary use
44: Mortuary Funeral Homes and crematory
45: Motel Usually 1 to 2 stories with exterior corridors
This would include non-family or independent sit-down restaurants. Typically
46: Restaurant
chains such as Outback or Ruby Tuesdays. Typically are not self-service
47: Gas Station Rural, small, independent, repair garage that may or may not have gas pumps
48: Restroom Building Building containing restrooms, usually at parks
49: Auto Showroom/Off Car dealerships
Medical facility utilized for specialized surgeries where it is all out-patient
50: Surgical/Outpatient
care
51: Laundromat Both self-service laundry facilities and dry-cleaning facilities
52: Bowling Alley Bowling Alley
53: Skate Rink Ice/Roll Skate Rink Ice/Roll
54: Multi-Fam Assisted Facilities that includes primarily independent living. Full time nurses are not
Living present, but some services are provided for elderly residences
55: Service Shop Local vehicle repair facilities. Not chain locations such as Firestone.
56: Retail III Small, typically rural, retail stores that can have 1 - 3 gas pumps
57: Car Wash Automatic Drive-up / Drive through car wash facilities
59: School Gym Gymnasiums
Car wash where the car owner washes the vehicle with wands and brushes.
60: Car Wash Manual
Not automatic
61: Convenience Store Typically chain facilities such as Go-Gas, Exxon, Speedway, Circle K
Fast-food style restaurants that are chain restaurants. They are typically self-
62: Franchise Restaurant service style restaurants. This would include Burger Kind, Chic-Fil-A,
McDonalds, etc
Heavy manufacturing and assembling of products. Typically will include
64: Heavy Industrial
overhead cranes and thick concrete floors for heavy equipment to travel on.
Area above finished space. Typically in a warehouse. Can be use for storage
65:Mezzanine
or sometimes can be finished space for office
66: Mini Warehouse Non-climate controlled mini-warehouse facilities
Large retail facilities with multiple national and local business. Typically all
67: Mall Shops
indoors
68: Retail Community Smaller strip-centres where there are mostly independent retailers. Usually
Shopping non-anchored

90
 Larger retail facilities that will include a large anchor tenant with a mixture of
69: Retail-NBHD
independent and chain retailers. These are larger than community shopping
Shopping
centres but are typically smaller than malls and are accessed from the exterior
Large retail stores that are typically in-line. Can included retailers such as
70:Department Store
Burlington Coat Factory, Bed, Bath and Beyond, JC Penny, Etc.
Typically consist of Home Depot, Wal-Mart, Lowes, and are usually free-
71:Big Box Retail
standing
72: Hotel Typically 3+ stories and are rooms are accessed through interior corridors
Both male and female hair care facilities. Can include small retail space for
73:Barber/Beauty Shop
hair and beauty products
74:Recreation Facility Municipal facility is utilized for outdoor events/recreation
Usually franchise auto care facilities such as Firestone, Jiffy Lube, etc.
76: Auto Lube
Typically located in high traffic, high visibility locations.
77:Boat Storage Open Non-enclosed boat storage
78:Boat Storage
Enclosed boat storage
Building
86:Mini Warehouse
Self-storage facility that is climate controlled
Climate Controlled

91
 COST SCHEDULES

RESIDENTIAL

From time to time it may be deemed necessary to add one or another code (for example,
additional Land Models for new subdivisions), with associated rates, to those in this Schedule of
Values to address unforeseen situations.

All such new codes and associated rates are hereby incorporated into this Schedule of Values
except that no new code or rate may negatively affect the integrity of (equality among) the
valuations arising from the implementation of and continuing use of this Schedule, as approved.

92
 RESIDENTIAL COST SCHEDULE
RATE/FACTOR
MODEL(s) CODE TYPE CODE DESCRIPTION RANGE
1-7 AIRCODE 1 AIR COND ADJ 0
1-7 AIRCODE 2 ELEC HT ADJ 1.50
1-7 AIRCODE 3 FURNACE ADJ 1.00
1-7 AIRCODE 4 STEAM ADJ 2.00
1-7 AIRCODE 5 CENT AC ADJ 1.25
1-7 AIRCODE 6 SOLAR ADJ 1.00
1-7 AIRCODE 7 UNIT HT PMP ADJ 2.00
1-7 AIRCODE 8 ELECT / CENTRAL ADJ 3.00
1-7 AIRCODE 9 FURNACE / CENTRAL ADJ 3.00
1-7 AREA COEFF AREA FACTOR=AREA*COEF1+CONST .00035-.0015
1-7 AREA CONST AREA FACTOR=AREA*COEFF+CONST .02-.40
1-7 AREA SQRT SQRT FACTOR -.020-.025
1-7 BSMT 1 NONE 0
1-7 BSMT 2 CRAWL 0
1-7 BSMT 3 PART 0
1-7 BSMT 4 FULL 0
1-7 COST BASE BASE COST VALUE 12000-150000
1-7 COST VALYR VALUATION YEAR 2022
1-7 EXTWALL 1 Frame Siding, Plywood 0
1-7 EXTWALL 2 Brick Veneer 1.00
1-7 EXTWALL 3 Brick Frame 1.00
1-7 EXTWALL 4 Concrete Block -1.00
1-7 EXTWALL 5 Stucco Block 1.10
1-7 EXTWALL 6 Stucco Frame 1.20
1-7 EXTWALL 7 Stone 1.50
1-7 EXTWALL 8 Modular Metal -1.00
1-7 EXTWALL 11 Aluminum/Vinyl 0.00
1-7 EXTWALL 13 Metal/Glass 1.20
1-7 EXTWALL 16 Asbestos Shingle -1.00
1-7 EXTWALL 17 Composition Roll -1.00
1-7 EXTWALL 18 Wood Shingle 1.30
1-7 EXTWALL 19 Board and Batten 1.00
1-7 EXTWALL 20 Siding on Sheathing 1.00
1-7 EXTWALL 21 Cedar/Redwood/Cypress 1.20
1-7 EXTWALL 22 Stone Veneer/Permastone 1.40
1-7 EXTWALL 23 Log 1.00
1-7 EXTWALL 25 Cedar Shake 1.20
1-7 EXTWALL 26 Hard Board \(Hardy board or plank) 1.20
1-7 EXTWALL 27 Metal/Insulation/Metal \(Sandwich) -1.00

93
1-7 FUEL 1 GAS
1-7 FUEL 2 ELECTRIC
1-7 FUEL 3 OIL
1-7 FUEL 4 COAL
1-7 FUEL 5 SOLAR
1-7 FUEL 6 WOOD
1-7 FUEL 7 NONE

RESIDENTIAL COST SCHEDULE

CODE RATE/FACTOR
MODEL(s) TYPE CODE DESCRIPTION RANGE
1-7 GRADE A VERY GOOD 1.50
1-7 GRADE B GOOD 1.25
1-7 GRADE C AVERAGE 1.00
1-7 GRADE D BELOW AVERAGE 0.75
1-7 GRADE E POOR 0.50
1-7 HEAT 0 NO HEAT, NO AC 0
1-7 HEAT 1 CENTRAL HEAT & A/C 3600
1-7 HEAT 2 UNIT/EBB/ELEC 1800
1-7 HEAT 3 FURNACE 1200
1-7 HEAT 4 STEAM / HW 2400
1-7 HEAT 5 CENTRAL AC 1500
1-7 HEAT 6 SOLAR 1200
1-7 HEAT 7 UNIT HEAT PUMP 2400
1-7 HEAT 8 ELECTRIC HT / CENT AC 3600
1-7 HEAT 9 FURNACE / CENT AC 2700
1-7 HEATCODE 2 HEAT ADJ 0
1-7 HEATCODE 3 HEAT ADJ 0
1-7 HEATSYS 1 CENTRAL HEAT / AC 3600
1-7 LEVEL COM COMM LEVEL 100
1-7 LEVEL OBY OBY LEVEL 100
1-7 LEVEL RES RES LEVEL 100-150
1-7 MISC CC CATHEDRAL CEILING 1500
1-7 MISC EC ELEVATOR VAR ELECTRIC 0
1-7 MISC ED ELEVATOR HYDRAULIC 0
1-7 MISC EE ELEVATOR SMALL 0
1-7 MISC EF 2 STORY FOYER 1500
1-7 MISC FW DAYLIGHT BSMT FULL WALKOUT 0
1-7 MISC HA HABITAT 0
1-7 MISC JA JACUZZI 3200
1-7 MISC PW DAYLIGHT BSMT PARTIAL WALKOUT 0
1-7 MISC RW DAYLIGHT BSMT RAISED WALKOUT 0
1-7 MISC SA SAUNA 2300

94
 1-7 MISC SC SECURITY 0
1-7 OTH-FEAT BLIV FIN-BASEMENT LIVING AREA 25.00
1-7 OTH-FEAT BLIVA FIN-BASEMENT LIVING AREA 25.00
1-7 OTH-FEAT BREC FIN-BASEMENT REC ROOM 20.00
1-7 OTH-FEAT BRECA FIN-BASEMENT REC ROOM 20.00
1-7 OTH-FEAT FBPCT FIN BSMT SFLA % 1.00
1-7 OTH-FEAT METFP METAL FIREPLACES 2500

RESIDENTIAL COST SCHEDULE

RATE/FACTOR
MODEL(s) CODE TYPE CODE DESCRIPTION RANGE
1-7 OTH-FEAT TRIMB BRICK TRIM 7.30
1-7 OTH-FEAT TRIMS STONE TRIM 7.30
1-7 OTH-FEAT UNFIN UNFINISHED AREA 14
1-7 OTH-FEAT WBFP1 WBFP-ONE STACK, ONE OPENING 0
1-7 OTH-FEAT WBFP2 ADDITIONAL OPENINGS 0
1-7 OTH-FEAT WHEAT CENTRAL WOOD HEATING 2000
1-7 PLUMB ADDFX BASE # FIXTURES 2
1-7 PLUMB COUNT NORMAL # FIXTURES 2
1-7 PLUMB FIXT PRICE PER PLUMBING FIXTURE 950
1-7 REVEDIT BLDG REVIEWERS BLDG % 0-99
1-7 REVEDIT LAND REVIEWERS LAND % 0-99
1-7 ROUND APRTT ROUND APR TOTALS -2
1-7 SH-BRICK 10-45.9 1 STORY-4 1/2 STORY MASONRY 0.06-0.175
1-7 SH-FACT 10-45.9 1 STORY - 4 1/2 STORY 1-3.84
1-7 STDFIX 2 # STANDARD FIXTURES (NO ADJ)
1-7 STORYSF 1 1 STORY - 4 1/2 STORY SFLA FACT 1-4.59

95
 RESCOSTSCH ADDITIONS
(ALL MODELS) RATE
CODE DESCRIPTION RANGE
01 SINGLE FAMILY 35 - 55
02 BEACH DUPLEX 45 - 65
03 DUPLEX 32 - 52
04 APARTMENT 30 - 50
05 SINGLE FAM W/SPEC 45 - 65
06 CONDO 60 - 90
07 TOWNHOUSE 36 - 56
08 MULTI FAMILY 30 - 50
150 SINGLE FAMILY 50% FLR SPACE 35 - 55
175 SINGLE FAMILY 75% FLR SPACE 35 - 55
38 Double Wide M/H 28 - 48
39 Singlewide M/H 10 - 30
41 MIXED USE RES/COMM 35 - 55
50 MISC COMM USE 25 - 45
54 BEACH TOWNHOUSE 50 - 90
63 BEACH HOUSE 50 - 90
72 SOLARIUM 40 - 60
73 BEACH CONDO 75 - 300
77 ATTGAR - UNFINISHED 12 - 25
78 ATTGAR - FINISHED 15 - 30
80 PORCH 15 - 30
81 ENCLOSED PORCH 25 - 40
82 CARPORT 7 - 17
83 CANOPY 8 - 20
84 PATIO 2 - 6
85 STOOP 6 - 15
86 UTILITY ROOM 20 - 40
87 PORTICO 20 - 40
88 WOOD DECK 8 - 18
89 COV PATIO 6 - 17
90 LUMBER SHED 12 - 25
91 OPEN PLATFORM 7 - 20
92 COVERED PLATFORM 8 - 24
93 DRIVETHRU 15 - 30
94 OVERHANG 5 - 15
97 SHELTER 6 - 15
98 ATT SHOP 15 - 30
99 LUMBER SHED 10 - 30

96
 COST SCHEDULES

COMMERCIAL

From time to time it may be deemed necessary to add one or another code (for example,
additional Land Models for new subdivisions), with associated rates, to those in this Schedule of
Values to address unforeseen situations.

All such new codes and associated rates are hereby incorporated into this Schedule of Values
except that no new code or rate may negatively affect the integrity of (equality among) the
valuations arising from the implementation of and continuing use of this Schedule, as approved.

97
COMMERCIAL BASE STRUCTURE RATES

Ranges for All Levels

Basic
Bldg
Code Wood Frame Fire Resist. Fire Proof Pre-Engineered Steel
02 13.00-21.00 14.00-22.00 24.00-34.00 0
03 12.00-20.00 14.00-21.00 23.00-32.00 10.00-15.00
04 12.00-26.00 13.00-20.00 22.00-32.00 9.00-15.00
05 13.00-22.00 15.00-23.00 25.00-35.00 11.00-16.00
06 14.00-22.00 16.00-23.00 26.00-36.00 11.00-16.00
10 12.00-20.00 13.00-21.00 25.00-33.00 12.00-16.00

COMMERCIAL/INDUSTRIAL INTERIOR FINISH USE TYPE COST FACTORS & MECHANICAL

MECHANICAL
USE TYPE DESCRIPTION SF BASE RATE RANGE (HVAC)
1 Dwg/Living Area 35 - 66 0.00-10.00
3 Apartment 25 - 63 0.00-10.00
8 Hangar 5 - 30 0.00-10.00
9 Fitness Club 30 - 60 0.00-10.00
11 Retail I 12 - 56 0.00-10.00
12 Retail II 12 - 56 0.00-10.00
13 Industrial 8 - 30 0.00-10.00
14 Warehouse 4 - 12 0.00-10.00
15 Armories 35 - 55 0.00-10.00
16 Restaurant/Lounge 45 - 80 0.00-10.00
17 Bar/Tavern 40 - 60 0.00-10.00
18 Post Office 55 - 75 0.00-10.00
19 Supermarket 12 - 28 0.00-10.00
20 Office I 30 - 90 0.00-10.00
21 Medical Center 60 - 110 0.00-10.00
22 Govt Building 70 - 120 0.00-10.00
23 Hospital 75 - 180 0.00-10.00
24 Vet Clinic 40 - 120 0.00-10.00
25 Library 60 - 121 0.00-10.00
26 Bank/Savings Inst 75 - 180 0.00-10.00
27 Fire Station 60 - 90 0.00-10.00
28 Jail 100 - 240 0.00-10.00
29 Retail IV 12 - 56 0.00-10.00
30 School 60 - 112 0.00-10.00
31 Religious Inst 50 - 105 0.00-10.00

98
 SF BASE RATE USE
USE TYPE DESCRIPTION RANGE TYPE DESCRIPTION HVAC
32 Auditorium 60 - 90 0.00-10.00
33 Theater 45 - 65 0.00-10.00
34 Social/Fraternal Hall 40 - 90 0.00-10.00
35 Spa 30 - 61 0.00-10.00
36 Day Care 60 - 96 0.00-10.00
37 Office II 30 - 90 0.00-10.00
38 Office III 30 - 90 0.00-10.00
40 Nursing Home 55 - 91 0.00-10.00
42 Club House 40 - 60 0.00-10.00
43 Ind Maintenance 5 - 20 0.00-10.00
44 Mortuary 45 - 80 0.00-10.00
45 Motel 30 - 60 0.00-10.00
46 Restaurant 55 - 90 0.00-10.00
47 Gas Station 35 - 65 0.00-10.00
48 Restroom Bldg 40 - 90 0.00-10.00
49 Auto Showrm/Office 40 - 60 0.00-10.00
50 Surgical/Outpatient 100 - 200 0.00-10.00
51 Laundromat 25 - 45 0.00-10.00
52 Bowling Alley 25 - 45 0.00-10.00
53 Skating Rink 35 - 55 0.00-10.00
54 MultiFam Asst Living 35 - 70 0.00-10.00
55 Service Shop 10 - 25 0.00-10.00
56 Retail III 12 - 56 0.00-10.00
57 Car Wash Auto 35 - 67 0.00-10.00
59 School Gym 45 - 80 0.00-10.00
60 Car Wash Manual 15 - 35 0.00-10.00
61 Convenience Store 30 - 60 0.00-10.00
62 Food Franchise 65 - 105 0.00-10.00
64 Heavy Industrial 15 - 30 0.00-10.00
65 Mezzanine 20 - 35 0
66 Mini-Warehouse 5 - 25 0.00-10.00
67 Mall Shops 45 - 120 0.00-10.00
68 Retail Comty Shpg 30 - 75 0.00-10.00
69 Retail-NBHD Shpg 25 - 70 0.00-10.00
70 Department Store 45 - 80 0.00-10.00
71 Big Box Discount Store 20 - 45 0.00-10.00
72 Hotel 35 - 80 0.00-10.00
73 Barber/Beauty Shop 20 - 45 0.00-10.00
74 Recreational Facility 25 - 45 0.00-10.00
76 Auto Lube 45 - 80 0.00-10.00
77 Boat Storage Open 1 - 10 0

99
 78 Boat Storage Bldg 5 - 20 0.00-10.00
86 Mini Whse Climate 5 - 20 0.00-10.00
99 Misc Commercial 20 - 65 0.00-10.00

COMMERCIAL EXTERIOR WALL RATES 2022

RATE
CODE DESCRIPTION RANGE
01 FRAME 11 - 20
02 BRICK 16 - 30
03 BRICK/FRAME 14 - 25
04 CONCRETE BLOCK 15 - 22
05 STUCCO/MASONARY 13 - 20
06 STUCCO/FRAME 13 - 20
07 STONE 25 - 45
08 MODULAR METAL 7 - 15
11 ALUMINUM/VINYL 13 - 20
13 MAS/METAL/GLASS 20 - 30
14 CONCRETE TILT-UP 14 - 25
16 ASBESTOS 11 - 16
17 COMPOSITION/ROLL 11 - 25
18 WOOD SHINGLE 13 - 25
19 BOARD & BATTEN 12 - 23
20 SIDING ON SHEATHING 12 - 23
21 CEDAR, CYPRESS, REDWOOD 13 - 24
22 STONE VENEER 22 - 34
25 CEDAR SHAKE 13 - 24
26 HARDY BOARD 12 - 20
27 METAL, SANDWICH 12 - 20
27 METAL, SANDWICH 11 - 20

100
 COMMERCIAL/INDUSTRIAL OTHER FEATURE & ATTACHED IMPROVEMENTS

CODE DESCRIPTION UNIT OF MSMT RATE RANGE

72 SOLARIUM SQ FT 40 - 60
73 MAUSOLEUM SQ FT 80 - 120
77 ATT GAR UNFIN SQ FT 20 - 45
78 ATT GAR FINISHED SQ FT 20 - 45
80 PORCH SQ FT 20 - 35
81 ENCLOSED PORCH SQ FT 25 - 50
82 CARPORT SQ FT 8 - 20
83 CANOPY SQ FT 8 - 20
84 PATIO SQ FT 3 - 7
85 STOOP SQ FT 7 - 12
86 UTILITY ROOM SQ FT 15 - 50
86A SERVICE STATION CANOPY SQ FT 15 - 30
87 PORTICO SQ FT 20 - 50
88 WOOD DECK SQ FT 10 - 20
89 COVERED PATIO SQ FT 10 - 25
89A SPRINKLER SQ FT 2 - 4
90 LUMBER SHED SQ FT 15 - 25
91 OPEN PLATFORM SQ FT 8 - 15
91A BRICKING SQ FT 7 - 12
92 COVERED PLATFORM SQ FT 10 - 25
93 DRIVETHRU SQ FT 25 - 50
94 OVERHANG SQ FT 7 - 15
95 SERVICE STN CANOPY SQ FT 15 - 30
WAREHOUSE-COLD
96 STORAGE SQ FT 40 - 60
97 SHELTER SQ FT 5 - 15
97A FREIGHT ELEVATOR EACH 25000 - 50000
98 ATTACHED SHOP SQ FT 15 - 25
98A PASSENGER ELEVATOR EACH 15000 - 35000
99 COMMERCIAL SIDEWALK SQ FT 3 - 5
99A DOCK LEVELER EACH 3500 - 5500

101
 COMMERCIAL INCOME AND EXPENSE RATE RANGES 2022

Expense
Rental Vacancy Overall
Ratio
Description Rage Rate Range Captialization
Range
Range (PCT) Rate Range (PCT)
(PCT)
Apartments No Garage (B) 600 - 1200 4 - 12 25 - 58 4 - 12
Apartments W/Garage (A) 700 - 1300 4 - 12 25 - 58 4 - 12
Basic Apartment ( C ) 500 - 900 4 - 12 25 -58 4 - 12
Basic Apartment (D) 500 - 900 4 - 12 25 -58 4 - 12
Fitness Club 5.25 - 9.50 3 - 15 10 - 30 6 - 12
Retail I 9 - 24 1 - 15 2 - 32 5 - 14
Retail II 4 - 15 5 - 20 15 - 35 6 - 13
Retail III 4 - 15 5 - 30 15 - 40 6 - 15
Retail IV 9 - 30 5 - 20 2 -22 6 - 12
Industrial 3 - 10 3 - 12 10 - 40 6 - 15
Warehouse 2-7 6 - 20 23 - 45 6 - 11
Restaurant/Lounge 6 - 18 6 - 15 12 - 40 7 - 18
Bar/Tavern 6 - 18 7 - 15 5 - 30 7 - 18
Supermarket 3-9 2 - 25 2 - 20 4 - 11
Office I 10 - 25 5 - 12 28 - 45 6 - 14
Office II 6 - 21 5 - 20 25 - 45 6 - 15
Office III 4 - 18 5 - 22 25 - 48 6 - 15
Medial Center 14 - 32 2 - 11 12 - 35 5 - 13
Hospital 14 - 32 2 - 11 12 - 35 5 - 14
Vet Clinic 10 - 32 2 - 11 12 - 35 5 - 13
Bank/Savings Institution 12 - 35 2 - 15 2- 22 6 - 13
Religious Instution 2 - 12 4 - 20 2 - 35 7 - 15
Theater 3 - 15 7 - 45 2 - 30 7 - 18
Social/Fraternal Hall 2 - 12 2 - 20 2 - 35 7 - 18
Health Spa 12 - 32 2 - 11 12 - 35 5 - 13
Day Care 7 - 18 2 - 15 5 - 32 6 - 15
Nursing Home 14 - 35 2 - 11 10 - 45 5 - 14
Club House 2 - 15 2 - 20 2 - 35 6 - 14
Industrial Maintenance 3 - 12 3 - 12 10 - 32 6 - 14
Mortuary 7 - 22 2 - 15 10 - 4 6 - 14
Motel 15 - 75 40 - 80 30 - 75 5 - 18
Restaurant 6 - 25 5 - 20 2 - 25 7 - 17
Gas Station 4 - 15 5 - 18 5 - 35 6 - 18
Auto Showroom/Office 8 - 25 2 - 15 10 - 32 6 - 12
Surgical/Outpatient 14 - 35 2 - 11 10 - 35 5 - 14
Laundromat 8 - 25 2 - 11 2 - 20 5 - 13
Bowling Alley 2 - 10 2 - 15 5 - 35 6 - 15

102
Skate Rink Ice/Roll 2 - 10 2 - 12 5 - 32 6 - 15
Multi-Fam Assisted Living 14 - 35 2 - 15 12- 50 5 - 14
Service Shop 2 - 15 2 - 20 5 - 45 6 - 15
Car Wash Automatic 10 - 55 2 - 20 2 - 25 5 - 11
Car Wash Manual 10 - 55 2 - 20 2 - 25 5 - 11
Convenience Store 12 - 55 2 - 20 2 - 35 5 - 11
Restaurant - Franchise 15 - 45 2 - 12 2-8 5 - 11
Heavy Industrial 2 - 12 3 - 12 8 - 35 6 - 15
Mini-Warehouse Non-Climate Controlled 2 - 25 3 - 12 20 - 48 4 - 14
Mall Shops 8 - 30 2 - 20 10 - 45 5 - 14
Retail - Community Shopping 9 - 24 2 - 10 10 - 35 5 - 14
Retail - NBHD Shopping 9 - 24 2 - 10 10 - 35 5 - 14
Department Store 3-9 2 - 12 2-6 4 - 11
Big Box Retail 3-9 2 - 12 2-6 4 - 11
Hotel 35 - 120 35 - 80 35 - 75 4 - 14
Barber/Beauty Shop 6 - 127 2 - 15 10 - 32 5 - 14
Recreation Facility 2 - 12 2 - 15 10 - 32 6 - 12
Auto Lube 14 - 47 2 - 15 2 - 15 4-9
Boat Storage Open .50 - 6 2 - 15 2 - 20 6 - 11
Boat Storage Building .50 - 6 2 - 15 2 - 20 6 - 11
Mini-Warehouse Climate Controlled 2 - 25 2 - 15 20 - 55 4 - 14
Dwelling/Living Area 3 - 13 2 - 20 15 - 65 6 - 15
Miscellaneous Commercial 3 - 30 2 - 15 8 - 35 5 - 14

103
 DEPRECIATION (CDU) FACTOR TABLES

CDU PERCENT GOOD TABLES

(Ex=excellent, VG=Very Good, G=Good, Avg=Average, F=Fair, P=Poor, US=Unsound)
Residential
00 1 100.00 100.00 100.00 99.00 98.00 90.00 99.00
00 10 96.00 96.00 93.00 90.00 86.00 79.00 90.00
00 20 91.00 91.00 86.00 80.00 73.00 66.00 64.00
00 30 86.00 86.00 80.00 70.00 60.00 52.00 44.00
00 40 81.00 81.00 73.00 60.00 50.00 42.00 24.00
00 50 76.00 76.00 67.00 50.00 40.00 32.00 20.00
00 60 71.00 71.00 62.00 41.00 31.00 24.00 20.00
00 70 66.00 66.00 57.00 37.00 27.00 20.00 20.00
00 80 61.00 61.00 52.00 35.00 25.00 18.00 20.00
00 90 56.00 56.00 47.00 33.00 23.00 15.00 20.00
00 100 51.00 51.00 43.00 32.00 22.00 15.00 20.00
P6 1 98.00 98.00 98.00 98.00 98.00 98.00 98.00
P6 10 80.00 80.00 80.00 80.00 80.00 80.00 80.00
P6 20 55.00 55.00 55.00 55.00 55.00 55.00 55.00
P6 40 20.00 20.00 20.00 20.00 20.00 20.00 20.00
P6 50 20.00 20.00 20.00 20.00 20.00 20.00 20.00
P6 60 20.00 20.00 20.00 20.00 20.00 20.00 20.00
P6 70 20.00 20.00 20.00 20.00 20.00 20.00 20.00
P6 80 20.00 20.00 20.00 20.00 20.00 20.00 20.00
P6 90 20.00 20.00 20.00 20.00 20.00 20.00 20.00
P6 100 20.00 20.00 20.00 20.00 20.00 20.00 20.00
P7 1 98.00 98.00 98.00 98.00 98.00 98.00 98.00
P7 10 80.00 80.00 80.00 80.00 80.00 80.00 80.00
P7 20 55.00 55.00 55.00 55.00 55.00 55.00 55.00
P7 30 29.00 29.00 29.00 29.00 29.00 29.00 29.00
P7 40 20.00 20.00 20.00 20.00 20.00 20.00 20.00
P7 50 20.00 20.00 20.00 20.00 20.00 20.00 20.00
P7 60 20.00 20.00 20.00 20.00 20.00 20.00 20.00
P7 70 20.00 20.00 20.00 20.00 20.00 20.00 20.00
P7 80 20.00 20.00 20.00 20.00 20.00 20.00 20.00
P7 90 20.00 20.00 20.00 20.00 20.00 20.00 20.00
P7 100 20.00 20.00 20.00 20.00 20.00 20.00 20.00

104
CDU PERCENT GOOD TABLES
(Ex=excellent, VG=Very Good, G=Good, Avg=Average, F=Fair, P=Poor, US=Unsound)
Commercial
C00 1 100.00 100.00 100.00 99.00 99.00 99.00 97.00
C00 10 97.00 96.00 94.00 92.00 89.00 85.00 60.00
C00 20 91.00 87.00 83.00 77.00 70.00 61.00 21.00
C00 30 80.00 74.00 66.00 55.00 43.00 28.00 20.00
C00 40 65.00 54.00 41.00 28.00 21.00 20.00 20.00
C00 50 42.00 32.00 21.00 20.00 20.00 20.00 20.00
C00 60 26.00 22.00 20.00 20.00 20.00 20.00 20.00
C00 70 20.00 20.00 20.00 20.00 20.00 20.00 20.00
C00 80 20.00 20.00 20.00 20.00 20.00 20.00 20.00
C00 90 20.00 20.00 20.00 20.00 20.00 20.00 20.00
C00 100 20.00 20.00 20.00 20.00 20.00 20.00 20.00

105
CDU PERCENT GOOD TABLES (CA44) 2022
(Ex=excellent, VG=Very Good, G=Good, Avg=Average, F=Fair, P=Poor, US=Unsound)
Other Buildings and Yard Items

OBY 2 1 100 100 100 100 50 50 50

OBY 2 100 100 100 100 100 50 50 50
OBY5 1 100.00 100.00 100.00 99.00 97.00 95.00 93.00
OBY5 5 30.00 30.00 30.00 30.00 30.00 25.00 25.00
OBY10 1 100.00 100.00 100.00 99.00 97.00 95.00 93.00
OBY10 10 30.00 30.00 30.00 30.00 30.00 25.00 25.00
OBY15 1 100.00 100.00 100.00 99.00 97.00 95.00 93.00
OBY15 10 50.00 50.00 49.00 48.00 46.00 44.00 42.00
OBY15 15 30.00 30.00 30.00 30.00 30.00 25.00 25.00
OBY20 1 100.00 100.00 100.00 99.00 97.00 95.00 93.00
OBY20 10 56.00 56.00 55.00 54.00 52.00 50.00 48.00
OBY20 20 30.00 30.00 30.00 30.00 30.00 25.00 25.00
OBY25 1 100.00 100.00 100.00 99.00 97.00 95.00 93.00
OBY25 10 61.00 61.00 60.00 59.00 57.00 55.00 53.00
OBY25 20 44.00 44.00 43.00 42.00 40.00 38.00 36.00
OBY25 25 30.00 30.00 30.00 30.00 30.00 25.00 25.00
OBY30 1 100.00 100.00 100.00 99.00 97.00 95.00 93.00
OBY30 10 68.00 68.00 67.00 66.00 64.00 62.00 60.00
OBY30 20 50.00 50.00 49.00 48.00 46.00 44.00 42.00
OBY30 30 30.00 30.00 30.00 30.00 30.00 25.00 25.00
OBY35 1 100.00 100.00 100.00 99.00 97.00 95.00 93.00
OBY35 10 72.00 72.00 71.00 70.00 68.00 66.00 64.00
OBY35 20 53.00 53.00 52.00 51.00 49.00 47.00 45.00
OBY35 30 38.00 38.00 37.00 36.00 34.00 32.00 30.00
OBY35 35 30.00 30.00 30.00 30.00 30.00 25.00 25.00
OBY40 1 100.00 100.00 100.00 99.00 97.00 95.00 93.00
OBY40 10 81.00 81.00 80.00 79.00 77.00 75.00 73.00
OBY40 20 59.00 59.00 58.00 57.00 55.00 53.00 51.00
OBY40 30 48.00 48.00 47.00 46.00 44.00 42.00 40.00
OBY40 40 30.00 30.00 30.00 30.00 30.00 25.00 25.00
OBY50 1 100.00 100.00 100.00 99.00 97.00 95.00 93.00
OBY50 10 91.00 91.00 90.00 89.00 87.00 85.00 83.00
OBY50 20 81.00 81.00 80.00 79.00 77.00 75.00 73.00
OBY50 30 71.00 71.00 70.00 69.00 67.00 65.00 63.00
OBY50 40 53.00 53.00 52.00 51.00 49.00 47.00 45.00
OBY50 50 30.00 30.00 30.00 30.00 30.00 25.00 25.00

106
OTHER FEATURES / OTHER BUILDINGS / OTHER IMPROVEMENTS

The appraisal of other features, other buildings and other improvements for residential, commercial,
industrial and agricultural properties is a difficult task. Other buildings and other improvements are
rarely purchased or sold separately from the balance of the property. The cost of construction of a
swimming pool, which is built for the convenience and comfort of a property owner, will rarely add
an equivalent amount to the market value of the property. The cost of construction of a farm
outbuilding that can be justified by its contribution to the farming operation will again seldom add an
equivalent amount to the market value of the property.

In effect, other buildings and other improvements have value in direct proportion to their degree of
utility or usefulness. This is an extension of the principle of contribution, which affirms that the value
of any factor in production is dependent upon the amount which it contributes to the overall net return,
irrespective of the cost of its construction. Any effective approach to the valuation of other buildings
and other improvements must reflect the action of investors. Informed farm owners and operators
would not invest in buildings which could not pay for themselves by either maintaining or adding to
the required level of productivity. Homeowners would not invest in swimming pools, detached
garages, etc., which would not supply the degree of comfort and/or convenience they desire.

The physical condition of an “other building” or other improvement bears a direct relationship on the
desirability and usefulness of that improvement. Once the appraiser has selected the property category
and grade level in which to place the improvement, then he/she must consider the age and condition
of the building and apply depreciation.

To assist the appraiser in categorizing the other buildings and other improvements, we have listed 99
classes of buildings and improvements. For each class of building or improvement there are five grade
levels that can be utilized. These grade levels may represent a unit cost such as square feet, bushel
capacity, or a lump sum rate for the entire unit. Following are examples of these five grade levels.

GRADE A an improvement of superior quality and workmanship

GRADE B an improvement of above average quality and workmanship

GRADE C an improvement of average quality and workmanship

GRADE D an improvement of below average quality and workmanship

GRADE E an improvement of poor quality and workmanship

107
 CAMA OTHER BUILDINGS
& YARD ITEMS COST
SCHEDULES
CDU % GOOD
CODE DESCRIPTION UNIT OF MEASURE RATE RANGE
TABLE
01 Residential Recreation Area 20 40 OBY30
02 Deck Area 10 20 OBY10
03 Patio Area 3 7 OBY10
04 SHED Area 15 25 OBY25
05 POOL Area 30 40 OBY15
06 Dwelling Sound Value Area Sound Value N/A
07 Bathhouse Area 25 40 OBY50
08 Shelter Area 5 15 OBY20
09 Stable Area 20 35 OBY30
10 Generator Quantity Sound Value OBY2
11 Solar Panel Quantity Sound Value OBY2
12 Blacktop Area 2 5 OBY10
13 Concrete Area 2 6 OBY15
14 Shop Area 15 35 OBY30
15 Fin Brick Gar Area 20 45 OBY40
16 Fin Frame Gar Area 20 45 OBY30
17 Unfin Brick Gar Area 20 45 OBY40
18 Unfin Frame Gar Area 20 45 OBY30
19 Carport Area 8 20 OBY10
20 Swine Farring House Area 6 20 OBY20
21 Swine Nursery Area 6 20 OBY20
22 Swine Farring/Nursery Area 6 20 OBY20
23 Swine Bree/Gestation House Area 6 20 OBY20
24 Swine Finishing House Area 6 20 OBY20
25 Poultry Brooding House Area 3 8 OBY20
26 Poultry Broiling House Area 3 8 OBY20
27 Poultry Brooding House Area 3 8 OBY20
28 Outdoor Kitchen Quantity Sound Value OBY2
29 Outdoor Fireplace Quantity Sound Value OBY2
30 Enclosed Porch Area 25 50 OBY15
31 Stoop Area 7 12 OBY15
32 Covered Porch Area 20 35 OBY15
33 Cargo Lifts Quantity Sound Value OBY2
34 Utility Room Area 15 50 OBY15
35 One Story Brick Area 30 60 OBY40
36 One Story Frame Area 25 60 OBY35
37 Inexpensive Metal Storage Area 4 12 OBY10
38 Implement Shed Area 8 15 OBY20
39 Bulkhead Lineal 90 200 OBY15

108
 CDU % GOOD
CODE DESCRIPTION UNIT OF MEASURE RATE RANGE
TABLE
40 Commercial Spa Quantity 3500 6000 OBY15
41 Finished Upper Story Area 25 50 OBY20
42 Unfinished Upper Story Area 20 40 OBY20
43 Other Animal House Area 8 15 OBY15
44 Barn Area 15 35 OBY30
49 Packing House Area 5 15 OBY30
50 Quonset Hut Area 10 20 OBY35
52 Lean To Area 3 10 OBY20
54 Gazebo Area 15 35 OBY15
55 Auger Leg Area 2 6 OBY15
56 Grain Bin Area 1 4 OBY20
58 Metal Building Area 10 20 OBY35
59 Kiosk Area 100 150 OBY40
64 Boatslip Units 3000 25000 OBY2
65 Boathouse Area 25 35 OBY15
66 Commercial Pier Area 40 200 OBY20
67 Dock Area 15 50 OBY20
68 Golf Greens Quantity 50000 150000 OBY40
69 Lumber Shed Area 15 25 OBY20
72 Commercial Greenhouse Area 7 15 OBY30
73 Commercial Building Area 20 50 OBY40
75 Tennis Court Area 4 8 OBY25
78 Grain Elevator Lineal 100 175 OBY20
79 Mobile Home Hookup Quantity 3600 7500 OBY2
80 Commercial Pool Area 40 75 OBY50
81 RV Hookup Quantity 2500 6500 OBY2
84 Canopy Area 8 20 OBY15
85 Bridge Area 20 200 OBY20
86 Service Station Canopy Area 15 30 OBY25
87 Commercial Storage Area 20 35 OBY40
88 Elevated Tank Area 1 4 OBY40
89 Sprinkler Area 2 4 OBY20
91 Bricking Area 7 12 OBY10
94 Building Sound Value Area Sound Value N/A
96 Building No Charge Area 0 0 N/A
97 Freight Elevator Quantity 25000 50000 OBY2
98 Passengar Elevator Quantity 15000 35000 OBY2
99 Dock Elevator Quantity 3500 5500 OBY2

109
CODE DESCRIPTION UNIT OF MEASURE RATE RANGE
01S Residential Recreation Area Sound Value
02S Deck Area Sound Value
03S Patio Area Sound Value
04S SHED Area Sound Value
05S POOL Area Sound Value
06S Dwelling Sound Value Area Sound Value
07S Bathhouse Area Sound Value
08S Shelter Area Sound Value
09S Stable Area Sound Value
10S Generator Quantity Sound Value
11S Solar Panel Quantity Sound Value
12S Blacktop Area Sound Value
13S Concrete Area Sound Value
14S Shop Area Sound Value
15S Fin Brick Gar Area Sound Value
16S Fin Frame Gar Area Sound Value
17S Unfin Brick Gar Area Sound Value
18S Unfin Frame Gar Area Sound Value
19S Carport Area Sound Value
20S Swine Farring House Area Sound Value
21S Swine Nursery Area Sound Value
22S Swine Farring/Nursery Area Sound Value
23S Swine Bree/Gestation House Area Sound Value
24S Swine Finishing House Area Sound Value
25S Poultry Brooding House Area Sound Value
26S Poultry Broiling House Area Sound Value
27S Poultry Brooding House Area Sound Value
28S Outdoor Kitchen Quantity Sound Value
29S Outdoor Fireplace Quantity Sound Value
30S Enclosed Porch Area Sound Value
31S Stoop Area Sound Value
32S Covered Porch Area Sound Value
33S Cargo Lifts Quantity Sound Value
34S Utility Room Area Sound Value
35S One Story Brick Area Sound Value
36S One Story Frame Area Sound Value
37S Inexpensive Metal Storage Area Sound Value
38S Implement Shed Area Sound Value
39S Bulkhead Lineal Sound Value

110
CODE DESCRIPTION UNIT OF MEASURE RATE RANGE
40S Commercial Spa Quantity Sound Value
41S Finished Upper Story Area Sound Value
42S Unfinished Upper Story Area Sound Value
43S Other Animal House Area Sound Value
44S Barn Area Sound Value
49S Packing House Area Sound Value
50S Quonset Hut Area Sound Value
52S Lean To Area Sound Value
54S Gazebo Area Sound Value
55S Auger Leg Area Sound Value
56S Grain Bin Area Sound Value
58S Metal Building Area Sound Value
59S Kiosk Area Sound Value
64S Boatslip Units Sound Value
65S Boathouse Area Sound Value
66S Commercial Pier Area Sound Value
67S Dock Area Sound Value
68S Golf Greens Quantity Sound Value
69S Lumber Shed Area Sound Value
72S Commercial Greenhouse Area Sound Value
73S Commercial Building Area Sound Value
75S Tennis Court Area Sound Value
78S Grain Elevator Lineal Sound Value
79S Mobile Home Hookup Quantity Sound Value
80S Commercial Pool Area Sound Value
81S RV Hookup Quantity Sound Value
84S Canopy Area Sound Value
85S Bridge Area Sound Value
86S Service Station Canopy Area Sound Value
87S Commercial Storage Area Sound Value
88S Elevated Tank Area Sound Value
89S Sprinkler Area Sound Value
91S Bricking Area Sound Value
94S Building Sound Value Area Sound Value
96S Building No Charge Area Sound Value
97S Freight Elevator Quantity Sound Value
98S Passengar Elevator Quantity Sound Value
99S Dock Elevator Quantity Sound Value

111
Grade Factors A = 1.50
B = 1.25
C = 1.00
D = .75
E = .50

Note: Codes containing the letter “S” are Sound Valued, also known as override value or gross value. These
items typically have minimal if any contributory value.

112
 VALUATION OF LAND

The valuation of land is a comparatively simple and logical operation given sufficient data for
analysis. The factors which contribute to value and those which detract from value are there for
everyone to see. It remains only for the critical eye of the appraiser to observe them.

The residential appraiser who possesses a thorough understanding of the basic theory of valuation
experiences little difficulty in appraising residential lots. Here he has an excellent opportunity to
exercise his inherent common sense and good judgment. To assist him in his appraisal, we review
here several basic valuation rules which experience has indicated are acceptable, in that their use has
given consistently reliable results in the past.

Residential lots differ as to the desirability and advantages and thus have a varying capacity for use.
It is upon the degree to which this capacity for use exists in a particular lot that competition between
bidders is developed and the demand for ownership may be established.

Intelligent buyers compare prices as well as the advantages and disadvantages of other available
building sites. It is understandable that the value of lots of equal desirability and advantages in a
neighborhood tend to seek a common level. An oversupply of lots of comparable desirability tends
to diminish the value. Conversely, a shortage of building sites makes for premium prices paid for
those available, and in this, establishes the value of all similar lots at the same higher level.

Thus, the appraisal of residential land, and for land given to any other use is not primarily a process
of determining its use value as with structures, but rather one of comparing the desirability and prices
of other available building sites. One needs only to compare the advantages and disadvantages of a
site of unknown with those offered by a lot of known value. The appraiser simply cuts and tries and
fits until he has narrowed the bracket of valuation to a figure which completely satisfies him as
representing the justifiable price on the current market for such real estate in the community.

113
 BRACKETING

The method of cutting and trying referred to on the previous page is known as “bracketing” and may
be used to excellent advantages in all appraisal work. The appraiser simply determines maximum
and minimum limits to value, and by narrowing the zone between these limits, finally establishes a
“bracket” within which it is reasonable to assume the actual value will fall. Bracketing is very useful
in sorting the correlating sale prices in a neighborhood, both for vacant and improved properties.
Recent actual selling prices for vacant lots in a locality, when obtained from reliable sources represent
a starting point for land valuation. Such sale prices must be carefully investigated to determine their
reliability as criteria of value. The circumstances, which actuated the buyer and seller, should be
considered in each case to determine if the actual sale price represents a fair value for the property.
The date of each sale should be obtained so that the effect of general economic conditions and special
conditions of the environment at the time of the sale can be determined.

The appraiser should never lose sight of the fact that he is seeking a present and future value rather
than an expression of values in the past. He should also remember that he is determining the value
of a lot for future benefits and not simply a record of “past prices paid”. Values of all property, vacant
or improved, are correct only to the extent that the appraiser is able to predict the future. The trends
of a particular neighborhood, an entire town, and even the nation all have their effect upon real estate
values.

114
 TOPOGRAPHY

Unusual topographical features invariably require special treatment in land valuations. Ravines or
gullies, ledges, hillsides, and hilltops do not necessarily detract from value. Often the presence of
such out of the ordinary topographical features may be of considerable value to builders with vision
and enterprise to take advantage of them. So called “problem lots” usually represent a difficult design
problem. When building is visualized taking full advantage of unusual topography, the problem lot
often turns out to be exceptionally desirable and valuable.

There are many instances in which unusual topography will detract from the desirability and value of
a lot as a building site. Ravines and gullies may require filling before the lot is made usable.
Unusually high lots may have to be graded and the excess material hauled away in preparing the site
for building. Open ditches may be required to be converted to underground sewers. Outcroppings
of rock or buried rock ledges in some localities represent another costly hazard of building. These
require special depreciation allowances, approximating the cost of eliminating the hazard. It should
be remembered that the added investment required to eliminate such obnoxious features will only
bring the lot to the value it would possess as a normal building site.

115
 LAND SIZE ADJUSTMENT

In the Schedule of Values you will find that we utilize land size adjustments. The reason is that certain
size tracts of land will sell for considerably more or less per acre depending on the size of the tract.
Studies show that there is less of a market for larger tracts, so their selling price tends to be somewhat
lower per acre. Downward adjustments are used on those agricultural and wooded tracts that contain
20 acres or more. Studies also show that those tracts which contain less than 1 acre will sell for more
per acre. Upward adjustments are made to these tracts. Acreage Factor Tables 1 - 2 are included as
part of the Land Schedules. Size adjustments may also be expressed using incremental/decremental
adjustments.

At the appraiser’s discretion, depth tables may also be utilized as a means of adjusting for size
differences among parcels. Consolidated depth tables, expressed as value ranges are also included
in the Land Schedules. The standard depth in each table is associated with a factor of 1.00 or 100%.
Lot depths less than the standard will be factored downward, expressed as a factor <1.00,
representing a decrease in value. If the depth is greater than the standard, the factor will >1.00,
representing a value increase due to the increased depth of the property.

116
LAND DEFINITIONS

Land values in Onslow County are dependent on a variety of factors that change in relative importance
depending on location and the quality of the property being appraised.

Rural and urban properties may be affected by many factors that may act on an individual property
such as, the geographical area, proximity to roads, residential areas, or business areas.

Due to these factors, it is not practical to develop a single schedule, giving all property a single
classification.

The following definitions are used only as a guideline in appraising land in Onslow County.

• Residential– Parcels have improvements such as electricity, water, sewer, septic system,
dwelling, mobile home or double wide. These parcels are normally urban or in subdivisions.
The quality and location of the land will determine the rate used.

• Building Site- Parcels have improvements such as electricity, water, sewer, septic system,
dwelling, mobile home or double wide. These parcels normally are in the rural area. The
quality and location of the land will determine the rate used.

• Waterfront River/Creek- These parcels may or may not be improved with electricity, water,
sewer, or septic system. They may be located on the White Oak River, New River, North East
Creek, Dix Creek, Queens Creek or any other river or creek that may be in Onslow County.
The quality and location of the land will determine the rate used.

• Waterfront Intra Coastal Waterway- These parcels are located on the Intra Coastal Waterway.
They may or may not have improvements such as water, electricity, sewer, or septic systems.
The quality and the location of the land will determine the rate used.

• Waterfront Canal- Parcels are typically located on Topsail Island. They may or may not be
improved with electricity, water, sewer or septic system. The quality and location of the land
will determine the rate used.

• Waterfront Sound- These parcels are located on the sound or bays, such as Stump Sound,
Everett Bay and Chadwick Bay. They may or may not be improved with electricity, water,
sewer or septic system. The quality and location will determine the rate used.

• Waterfront Ocean- These parcels are located on the Atlantic Ocean. They may or may not be
improved with electricity, water, sewer or septic system. The quality and location of the land
will determine the rate used.

• Townhome- These parcels are always improved with dwelling, electricity, water, sewer or
septic system. Some parcels may or may not include a Homeowner’s Association with
swimming pool, tennis courts, walkways, and parking lots. These items are covered under the
117
 homeowner’s dues and considered part of the market value. The quality and location of the
parcel will determine the rate used.

• Undeveloped- These parcels are contiguous to developed parcels such as subdivisions or

shopping centers, having more value than cleared or wooded lands. The quality and location
will determine the rate used.

• Frontage- Land that fronts a road or highway. The quality and location will determine the rate
used.

• Cleared- Land that is suitable for raising crops or other farm use. The quality and location will
determine the rate used.

• Pasture- Land that is suitable for growing crops for livestock to graze. The quality and location
will determine the rate used.

• Wood Land- Land that is suitable for raising hard or soft wood trees. NOTE: Timber is not
assessed in this State, only the ability of the land to produce. The quality and location will
determine the rate used.

• Rear- These parcels are located off road and have minimal to no access to a road or highway.
The quality and location will determine the rate used.

• Residual- This is usually a small tract of land that adjoins the building site, usually rural. The
quality and location will determine the rate used.

• Lake/Pond- An inland body of fresh water, a still body of water usually artificially constructed.
The quality and location will determine the rate used.

• Marsh- Water logged land that grows marsh grass. This land can be used to construct a pier
and dock for deep-water access over the marsh grass. The quality and location will determine
the rate used.

• Wet/Swampy- Parcels of land that are in low land areas. These parcels are saturated with
moisture, usually 404-type land. The quality and location will determine the rate used.

• Mobile Home/Recreation Vehicle Park- Parcels that rent or lease three (3) or more spaced for
mobile homes and/or recreational vehicles. The quality and location will determine the rate
used.

• Commercial Rural- Tracts or parcels of land that are used for commercial business in rural
areas, zoned or not zoned. The quality and location will determine the rate used.

• Commercial Urban- Tracts or parcels of land used for commercial business, zoned or not
zoned. The quality and location will determine the rate used.

• Commercial Island- Tracts or parcels of land used for commercial business, (usually zoned)
located on Topsail Island. The quality and location will determine the rate used.

118
• Commercial Sound Front- Tracts or parcels of land used for commercial business, may or
may not be zoned, located on Topsail Island, Sneads Ferry or Swansboro. The quality and
location will determine the rate used.

• Commercial Ocean Front- Tracts or parcels of land used for commercial business (usually
zoned) located on Topsail Island. The quality and location will determine the rate used.

• Commercial/Industrial Primary- Tracts or parcels of land that may or may not be zoned for
Primary Industrial or Commercial use. The quality and location will determine the rate used.

• Commercial/Industrial Secondary- Tracts or parcels of land that may or may not be zoned for
Secondary Industrial or Commercial use. The quality and location will determine the rate used.

• Market Price- Flat value rates that are not covered by any other schedule. The quality and
location will determine the market.

• Right of Ways- Land that is set aside for power lines, telephone lines or Cable TV lines.
Usually public utilities. The quality and location will determine the rate used.

• Oyster Bottoms- Land that is covered by water and leased to commercial fishermen. The
quality and location will determine the rate used.

• Mineral Rights- Land that is mined or rights to be mined by others. The quality and location
will determine the rate used.

• Cemetery- Graveyards may be commercial or private. Private or exempt graveyards have low
or little value. NOTE: Commercial grave plots and crypts “For Sale” are valued at market
value. The quality and location will determine the rate used.

• Billboard Site- Commercial site typically leased and used for a large advertising billboard.
These sites are typically valued based on income.

• Cell Tower Site- Commercial site typically leased and used for a cell tower. These sites are
typically valued based on income.

119
LAND SCHEDULES

120
 LAND MODELS

Once the appraiser has determined the appropriate land values for various properties in each
neighborhood, a land model is constructed to ensure uniform application of the rates used for each
land classification (residential, commercial, woodland, etc.) and valuation method (acre, lot-gross
value, square feet, front feet) used within the neighborhood. For example, neighborhood # 100 may
consist of standard subdivision lots of similar size. The appraiser decides that a lot value is the
appropriate method, and the value per lot is $35,000. Using the land schedules, residential land
code 01 is assigned to the subdivision lots, using land type method G (gross value) with a rate of
$35,000 (from range of rates in land schedules). All lots are coded and valued uniformly within the
neighborhood, producing equitable assessments. The land model would look as follows:

This process is repeated for the various land classifications and valuation methods for each
neighborhood, creating a unique Land Model for each neighborhood.

121
 CALP Land Codes and Value Ranges (LP57) 2022
(A=Acreage, F=Front Feet, G=Gross Value, U=Unit, S=Square Feet)
Code Description A F G U S
1 Residential Lot - 100-2500 10000-500000 -
2 Residential Lot - 100-2500 10000-500000 -
3 Residential Lot - 100-2500 10000-500000 -
4 Residential Lot - 100-2500 10000-500000 -
5 Nitrification Field 100 - 100 -
6 WF R/C 10000-900000 50-4500 10000-900000 -
7 WF R/C 10000-900000 50-4500 10000-900000 -
8 WF R/C 10000-900000 50-4500 10000-900000 -
9 WF Canal 10000-900000 50-4500 10000-900000 -
10 WF Canal 10000-900000 50-4500 10000-900000 -
11 WF ICW 10000-900000 50-4500 10000-900000 -
12 WF Sound 10000-900000 50-4500 10000-900000 -
13 WF Sound 10000-900000 50-4500 10000-900000 -
14 WF Ocean 10000-900000 50-4500 10000-900000 -
15 WF Ocean 10000-900000 50-4500 10000-900000 -
16 Waterview 10000-600000 - - -
17 Undeveloped 5000-200000 - - -
18 Townhome 5000-100000 - 5000-100000 -
19 Building Site 10000-250000 - - -
20 Building Site 10000-250000 - - -
21 Bldg Site Off-Road 5000-200000 - - -
22 Golf Course Lot - - 25000-250000 -
23 Residual 1000-50000 - - -
24 Clear 500-10000 - - -
25 Woodland 500-10000 - - -
26 404 Wetlands 1000 - - -
27 Right of Way 500-25000 - - -
28 Marsh/Wet 100 - 100 -
29 Lake/Pond 100-500 - 100-500 -
30 Mobile Home Park 10000-200000 - - -
31 RV Park 10000-200000 - - -
32 Rear 5000-200000 - - 1-20
33 Commercial 10000-900000 - - 1-40
34 Comm Ind Primary - - - 1-40
35 Comm Ind Secondary 10000-200000 - - 1-20
36 Cemetery 100 - 100 -
37 Quarry 100-25000 - - -
38 Island Spoil 100 - 100 -
39 Oyster Bottom 100 - 100 -
40 Mineral Rights 100-1000 - -
41 Common Area 100 - 100 -
42 Commercial 5000-500000 - - 1-18
43 Commercial 5000-500000 - - 1-18
122
 44 Commercial 5000-500000 - - 1-18
Code Description A F G U S
45 Commercial 5000-500000 - - 1-18
46 WF ICW 10000-300000 50-1000 5000-300000
47 WF ICW 10000-300000 50-1000 5000-300000
48 WATERVIEW 10000-200000 50-1000 5000-200000
49 WATERVIEW 10000-200000 50-1000 5000-200000
50 WATERVIEW 10000-200000 50-1000 5000-200000
51 UNDEVELOPED 5000-200000
52 UNDEVELOPED 5000-200000
53 BUILDING SITE 10000-200000
54 BLDGSITE OFF ROAD 10000-200000
55 BLDGSITE OFF ROAD 10000-200000
56 GOLF COURSE LOT 25000-100000
57 RESIDUAL 1000-20000
58 RESIDUAL 1000-20000
59 MOBILE HOME PARK 10000-100000
60 MOBILE HOME PARK 10000-100000
61 MOBILE HOME PARK 10000-100000
62 CLEAR 500-10000
63 CLEAR 500-10000
64 CLEAR 500-10000
65 WOODLAND 500-10000
66 WOODLAND 500-10000
67 WOODLAND 500-10000
68 RESIDENTIAL 100-2500 10000-200000
69 RESIDENTIAL 100-2500 10000-200000
70 RESIDENTIAL 100-2500 10000-200000
71 RESIDENTIAL 100-2500 10000-200000
72 RESIDENTIAL 100-2500 10000-200000
73 RESIDENTIAL 100-2500 10000-200000
74 RESIDENTIAL 100-2500 10000-200000
75 RESIDENTIAL 100-2500 10000-200000
76 RESIDENTIAL 100-2500 10000-200000
77 RESIDENTIAL 100-2500 10000-200000
78 RESIDENTIAL 100-2500 10000-200000
79 WF OCEAN 10000-900000 50-4500 10000-900000
80 WF OCEAN 10000-900000 50-4500 10000-900000
81 WF OCEAN 10000-900000 50-4500 10000-900000
82 WF SOUND 10000-900000 50-4500 10000-900000
83 WF SOUND 10000-900000 50-4500 10000-900000
84 WF SOUND 10000-900000 50-4500 10000-900000
85 BLDGSITE 10000-200000
86 BLDGSITE 10000-200000
87 BLDGSITE 10000-200000
88 BLDGSITE 10000-200000
123
 89 BLDGSITE 10000-200000
90 BLDGSITE 10000-200000
Code Description A F G U S
91 BLDGSITE 10000-200000
92 BLDGSITE 10000-200000
93 BLDGSITE 10000-200000
94 BLDGSITE 10000-200000
95 BLDGSITE 10000-200000
96 BLDGSITE 10000-200000
97 COMMERCIAL 10000-900000 1-40
98 UNDEVELOPED 5000-200000
99 APPRAISER REVIEW
100 BILLBOARD SITE 5000-50000
101 CELL TOWER SITE 25000-100000

124
 ACREAGE FACTOR TABLES

Acre Tables

Acres
Table Acres Factor
1 0.20 195.00
1 0.30 180.00
1 0.40 165.00
1 0.50 150.00
1 0.60 140.00
1 0.70 130.00
1 0.80 120.00
1 0.90 110.00
1 1.00 100.00
1 20.00 85.00
1 30.00 77.00
1 50.00 65.00
1 100.00 60.00
1 99999.99 60.00

Acres
Table Acres Factor
2 20.00 95.00
2 50.00 90.00
2 100.00 85.00
2 200.00 80.00
2 400.00 75.00
2 500.00 70.00
2 600.00 60.00
2 700.00 50.00
2 800.00 40.00
2 900.00 30.00
2 99999.99 30.00

125
 PRESENT LAND USE VALUATION

Taxation on the basis of present-use value is authorized by North Carolina law for eligible land
designated by use as agricultural, horticultural, or forest land under North Carolina General Statute
Sections 105-277.2 through 105-277.7 (incorporated herein by reference). All properties meeting the
guidelines set forth in this Statute will be appraised in accordance with the 2022 Use-Value Manual
for Agricultural, Horticultural, and Forest Land as published by the North Carolina Use-Value
Advisory Board through the North Carolina Department of Revenue.

North Carolina is divided into six Major Land Resource Areas (MLRA’s). Onslow County is located
in Major Land Resource Area 153A-Lower Coastal Plain. Present Use-Value rates for this area are
used as the basis for assessing parcels in the Present-Use Value program which are located in Onslow
County.

126
127
 LAND USE RATES

SOIL-TYPE RATE/ACRE

AG1 1185.00
AG2 860.00
AG3 645.00
AG4 100.00
FOR1 355.00
FOR2 235.00
FOR3 230.00
FOR4 200.00
FOR5 100.00
FOR6 100.00
HORT1 1440.00
HORT2 890.00
HORT3 680.00
HORT4 100.00

128
 HOMEOWNERS

ASSOCIATION PROPERTIES

NORTH CAROLINA GENERAL STATUTE

105 – 277.8. Taxation of property of nonprofit homeowner’s association.

(a)The value of real and personal property owned by a nonprofit homeowner’s association shall be
included in the appraisals of property owned by members of the association and shall not be assessed
against the association if:

(1) All property owned by the association is held for the use, benefit, and enjoyment of all
members of the association equally.

(2) Each member of the association has an irrevocable right to use and enjoy, on an equal basis,
all property owned by the association, subject to any restrictions imposed by the instruments
conveying the right or the rules, regulations, or bylaws of the association; and

(3) Each irrevocable right to use and enjoy all property owned by the association is appurtenant
to taxable real property owned by a member of the association.

The assessor may allocate the value of the association’s property among the property of the
association’s members on any fair and reasonable basis.

129
 ARCHITECTURAL TERMS

Apartment hotel a building designed for non-transient residential use, divided into dwelling
units similar to an apartment house, but having such hotel accommodations
as room furnishings, lounges, public dining room, maid service, etc.

Apartment house a multi-family residence containing three or more non-transient residential

living units and generally providing them with a number of common
facilities and services.

Attic an unfinished or semi-finished portion of a building lying between the

highest finished story and the roof and wholly within the roof framing.

Basement a building story which is wholly or partly below the grade level.

Bay (1) a horizontal area division of a building usually defined as the space
between columns or division walls. (2) an internal recess formed by causing
a wall to project beyond its general line.

Bay window a window, or group of continuous windows, projecting from the main wall
of a building.

Beam a long structural load-bearing member which is placed horizontally or

nearly so and which is supported at both ends or, infrequently at intervals
along its length.

Beam, spandrel a wall beam supporting the wall above, as well as the floor.

Building any structure partially or wholly above ground which is designed to afford
shelter to persons, animals, or goods. See also “construction.”

Building, fireproof a building in which all parts carrying loads or resisting stresses and all
exterior and interior walls, floors, and staircases are made of incombustible
materials, and in which all metallic structural members are encased in
materials which remain rigid at the highest probable temperature in case its
contents are burned, or which provide ample insulation from such a
temperature.

Building, loft a building have three or more stories with few or no interior bearing walls
and designed for storage, wholesaling, or light industrial purposes.

Building, single-purpose a building designed for a specific purpose, which cannot be used for
another purpose without substantial alterations; e.g., a theater or church.

130
Bungalow a one-story dwelling unit which is somewhat more pretentious than a
cottage.

Column a structurally isolated vertical member which is at least 8 to 10 times as long

as it’s least lateral dimension and which is designed to carry loads.
Compare “pier.”

Conduit a tube, pipe, or small artificial tunnel used to enclose wires or pipes or to
convey water or other fluids.

Construction, brick a type of construction in which the exterior walls are bearing walls (q.v.)
made of solid brick or brick and tile masonry.

Construction, brick veneer a type of construction in which the exterior walls are one-layer brick
curtain walls backed by a wood frame.

Construction, fireproof see “fireproof building.”

Construction, mill a type of construction in which the exterior walls are substantial masonry
bearing walls, in which the structural members are heavy timber, and which
is further characterized by an open design and by other safeguards against
fire hazards. Sometimes called “Slow-Burning Construction.”

Construction, reinforced concrete a type of construction in which the principal structural members,
such as the floors, columns, beams, etc., are made of concrete poured around
isolated steel bars or steel meshwork in such manner that the two materials
act together in resisting forces.

Construction, steel frame a type of construction in which there is a framework of steel structural
members for the support of all loads and the resistance of all stresses.

Construction, wood frame a type of construction in which there is a framework of wooden structural
members for the support of all loads and the resistance of all stresses.
Loosely called “Frame Construction.”

Coping a special capping at the top of a wall, serving principally as a watershed.

Cornice a projecting element at the top of a wall, serving principally as a decoration

or as part of the coping (q.v.).

Cottage a one-story to two-story dwelling unit of small size and humble character.

Course a uniform horizontal layer of brick, stone, terra cotta, shingles, or some
other structural material, extending continuously around a building or along
a wall.

Court an open space bordered on two or more sides by the walls of a single
building, or of two or more buildings, and by a lot line or a yard on any side
not so bordered.

131
Dormer (1) a relatively small structure projecting from a sloping roof. (2) a window
set upright in the face of such a structure.

Dwelling any building or portion thereof designed or occupied in whole or in part as

a place of residence.

Dwelling, attached a multi-family dwelling in which the dwelling units are separated vertically
by means of common or party walls. See “terrace.”

Dwelling, double a two-family dwelling in which the dwelling units are separated vertically,
by means of a common or party wall. Synonymous with “Semi-detached
Dwelling.”

Dwelling, duplex a two-framing dwelling in which the two dwelling units are separated
horizontally with a private street entrance for each; i.e., a two-family flat.

Dwelling, multi-family a building designed as a place of residence for more than two families or
households; e.g., an apartment house or tenement.

Dwelling, row any one of a series of similar single-family, two-family, or multi-family

dwellings having one or more contiguous common, or party walls.
Compare “Terrace”; “Dwelling, Double.”

Dwelling, unit any room or group of rooms designed as the living quarters of one family
or household, equipped with cooking and toilet facilities, and having an
independent entrance from a public hall or from the outside.

Eaves the portion of a sloping roof which projects beyond the outside walls of a
building.

Elevation a drawing representing a projection of any one of the vertical sides or

vertical cross-sections of a building or of any other object. Compare “plan.”

Façade the face of a building.

Firewall a wall of fire-resisting material erected between two parts of a building to

prevent the spread of fire from one part to the other.

Flashing small metal strips used to prevent leaking of roofs around chimneys,
dormers, hips and valleys.

Flat (1) any one floor of a building two or more stories high each floor of which
constitutes a single dwelling unit and has a private street entrance. (2) the
building containing two or more such floors. Compare “Dwelling, Duplex.”

Footing a spreading base to a wall, column, or other supporting member, which

serves to widen the ground area to which structural loads are transmitted.

Foundation the structural members below grade level, or below the first tier of beams
above grade level, which transmit the load of a superstructure to the ground.
132
Gable (1) the triangular portion of a wall between the slopes of a double-sloping
(i.e., gable) roof. (2) the whole of the wall containing such a triangular
portion. (3) a portion of a building extending from the remainder of the
building and covered with a gable roof.

Girder a large or principal beam (q.v.) used to support concentrated loads at

isolated points along its length. (Girders usually support the beams and
structure above.)

Header (1) a structural member which is laid perpendicularly to a parallel series of

similar members and against which the latter members abut. (2) a brick or
other piece of masonry which is laid in a wall in such manner that its longest
dimension extends along the thickness of the wall. Contrast “Stretcher.”

Hip (1) a sloping line along which two roof surfaces meet to form an external
angle of more than 180 degrees. (2) a hip rater (q.v.) Compare “Ridge",
“Valley.”

Hotel a building designed for transient or semi-transient residential use, divided

into furnished single rooms and suites, and having such accommodations as
lounges, public dining rooms and maid service, etc.

Hotel, apartment see “Apartment Hotel.”

Joist one of a series of small parallel beams laid on edge and used to support floor
and ceiling loads, and usually supported in turn by larger beams and girders.

Lintel a beam over a wall opening, such as a door or windows, designed to carry
the load of the wall over such opening.

Loft an un-partitioned or relatively un-partitioned upper story of a building,

designed for storage, wholesaling, or light manufacturing. See also “Loft
Building.”

Louver a ventilator containing slats which are placed lengthwise across the
ventilator opening, each slat being slanted in such manner as to the overlap
the next lower slat and to permit ventilation but exclude rain.

Marquise a flat roof-like structure which shelters a doorway, which has no floor
beneath it, and which is usually supported wholly from the walls or the
building.

Mezzanine a low story formed by placing a floor between what would ordinarily be the
floor and ceiling of a high story. Note the mezzanine floor frequently has a
smaller area than other floors and, if present at all, is usually between the
first and second story.

133
Millwork all of the wooden portions of a building, whether frame construction or
otherwise, which are customarily purchased in finished form from a planing
mill, such as doors, windows, trim, balusters, etc.

Overhang a finished portion of a building having fully story height which extends
beyond the foundation wall line if part of the ground story, or beyond the
exterior walls of the ground story if part of any higher story.

Overhead structure similar to overhang above ground story, as O. H. bridge or passage, O. H.

walk, O. H. addition.

Partition see “Wall, Partition.”

Pier (1) a thick, solid mass of masonry which is fully or partially isolated from
a structural standpoint and which is designed to transmit vertical loads to
the earth. (2) a structure projecting from land into water for use in loading
and unloading vessels. Compare “Column.”

Pilaster a flat-faced pillar projecting somewhat from, but engaged in, the wall of a
building and used for decorative purposes or to help support truss and girder
loads or both.

Pile a heavy timber, metallic, or masonry pillar forced into the earth to form a
foundation member.

Pitch the slope of any structural member, such as a roof or rafter, usually
expressed as a simple fraction representing the rise per lateral foot.

Plan a drawing representing a projection of any one of the floors or horizontal

cross-sections of a building or of the horizontal plane of any other object or
area. Compare “Elevation.”

Purlin a beam running along the underside of a sloping roof surface and at right
angles to the rafters, used to support the common rafters, and usually
supported in turn by larger structural members, such as trusses or girders
(usually run along length of a building.

Rafter a structural member placed, as a rule, in a sloping position and used as the
supporting element for the structural material forming the plane of the roof.
See also “Purlin.”

Rafter, hip a rafter placed in an inclined position to support the edges of two sloping
roof surfaces which meet to form an external angle of less than 180 degrees.

Rafter, valley a rafter placed in an inclined position to support the edges of two sloping
roof surfaces which meet to form an external angle or less than 180 degrees.

Ramp an inclined plan connecting two different floor levels and used in lieu of
steps.

134
Residence see “Dwelling.”

Ridge a horizontal line along which the upper edges of two roof surfaces meet to
form an external angle of more than 180 degrees. Compare “Hip”;
“Valley.”

Rise (1) in general, any vertical distance. (2) specifically, the rise of a roof, being
the distance between the top of an exterior wall and the peak of the roof; the
rise of a stair, being the distance from tread to tread.

Roof the top portion of a structure. Types of roofs include double-pitch, flat,
gable, gambrel, hip, lean-to, and single-pitch.

Roof, curb (or curbed) a roof in which the pitch of the upper part of a sloping side is less than the
pitch of the lower part.

Roof, flat a roof which is flat or sloped only enough to provide proper drainage.

Roof, gable a double-sloped roof having a cross section similar in general to the shape
of the inverted letter “V”.

Roof, gambrel a barn style roof with 3-4 planes

Roof, hip (or hipped) (1) in general, any roof having one or more hips (q.v.) (2) usually, a roof
with four sloping sides meeting along four hips or along four hips and a
ridge. Compare “Roof, Pyramid.”

Roof, lean-to (1) a roof having a single sloping side which is supported at the upper edge
by the wall of an attached building or of a larger and higher portion of the
same building (preferred). (2) any roof with a single slope. Compare “Roof,
Flat.”

Roof, mansard a special type of curb roof (q.v.) in which the pitch of the upper part of each
of the four equally sloping sides in small or negligible and that the lower
part very great, and from the lower part of which a series of dormers project.

Roof, monitor a type of gable roof, commonly found on industrial buildings, having a mall
raised portion along the ridge with openings for the admission of light and
air.

Roof, pyramid a hip roof having four sloping triangular sides, usually of equal pitch
meeting together at the peak.

Roof, ridged a roof having one or more ridges (q.v.).

Roof, saw tooth a roof with a series of parallel sloping surfaces interspersed between a series
of vertical surfaces which rise from the lower edges of such sloping surfaces
and which contain windows for the admission of light and air.

Roof, single pitch any roof with a single slope other than a lean-to roof.
135
Sash the wooden or metal framework in
which the glass of a door or window is set.

Sheathing the covering, usually of rough

lumber, placed immediately over studding or rafters.

Sill (1) the lower horizontal part of a door-case (the threshold) or of a window.
(2) the lowest horizontal structural member of a frame building, upon which
the superstructure is supported.

Sleeper a structural member laid horizontally on the ground or upon a masonry base
as a support to a floor or other superstructures.

Specifications a detailed description of the dimensions, materials, quantities, structural

procedures, etc. applicable to a projected or completed piece of
construction.

Story that portion of a building enclosed by a floor, a ceiling, and the exterior
walls.

Story, ground the first story lying wholly above the ground level. Synonymous with “First
Story.”

Story, half (or one-half) (1) for buildings with a mansard or gambrel roof, a finished portion of a
building which lies above the wall plate or cornice and which has a usable
floor area substantially less than that of the next lower story. (2) for all
other buildings, a finished portion of a building which is above one or more
full stories, which is wholly or partly within the roof frame and which has
one or more exterior walls substantially lower than the full height of the
story.

Story, one a building having no finished story above the ground story.

Stretcher a brick or other piece of masonry which is laid lengthwise in a wall.

(Header.)

Strut any structural member, which holds apart two or more other members by
counteracting a pressure, which tends to bring them together. (Tie.)

Stud one of a series of small slender structural members placed vertically and
used as the supporting element of exterior or interior walls. (Plural –
“Studs” or “Studding.”)

Subfloor the flooring laid directly on top of the floor joists but beneath the finish
floor.

Tenement a building, usually of obsolete nature, designed primarily for non-transient

residential use and divided into three or more dwelling units having

136
 common stairs, halls, and street entrances, and sometimes-common bath
and toilet rooms. Compare “Apartment House”; “Flat”; “Terrace.”

Terrace (1) an unroofed level area covered with grass or masonry or both, raised
above the surrounding ground level, and having a vertical or sloping front.
(2) a multi-family dwelling in which the dwelling units are separated
vertically by means of common or party walls.

Terra cotta a hard-baked pottery molded into decorative tiles, bricks, etc. and used
particularly for facing and trim on buildings.

Tie any structural member, which binds together two or more members by
counteracting a stress, which tends to draw them apart. (Strut)

Trim (1) the wooden portions of a plastered room, such as the doors, windows,
wainscoting, and molding, or the corresponding portions of a room finished
otherwise than with plaster. (2) the contracting elements on the exterior of
a building which serve no structural purpose but are intended to enhance its
appearance, e.g., the cornice. (3) occasionally, the hardware of a house,
such as locks, hinges, doorknobs, etc.

Truss a combination of structural pieces fastened together into a rigid open

member which is supported at both ends and upon which loads are
superimposed. Compare “Girder.”

Valley a sloping line along which two roof surfaces meet to form an external angle
of less than 180 degrees. Compare “Hip”; “Ridge.”

Veneer a thin ornamental or protective facing which does not add appreciably to the
strength of the body to which it is attached.

Wainscot (or wainscoting) (1) a wooden facing on the lower portion of a contrasting interior wall.
(2) by extension, a facing of marble tile, or the like, on the lower portion of
interior walls.

Wall a vertical structure serving to enclose, support, divide; as one of the vertical
enclosing sides of a building or room.

Wall, bearing a wall designed primarily to withstand vertical pressure in addition to its
own weight.

Wall, common a wall owned by one or two parties and jointly used by both, one or both of
whom is entitle to such use under the provisions of ownership.

Wall, curtain a non-bearing wall which is supported by columns, beams, or other

structural members, and whose primary function is to enclose space.

Wall, fire see “Firewall.”

137
Wall, partition an interior bearing or non-bearing wall which separates portions of a story.
Synonymous with “Partition.”

Wall, party a wall jointly used by two parties under easement agreement and erected at
or upon a line separating two parcels of land held under different ownership.

Wall, retaining a wall designed primarily to withstand lateral pressures of earth or other
filling or backing deposited behind it after constructing.

Window, bay see “Bay Window.”

Window, dormer see “Dormer.”

Wing a subordinate part of a building extending from the main part, or any one of
two or more substantially co-ordinate parts of a building which extends out
from one or more common junctions.

138
 REAL ESTATE APPRAISAL TERMS

Abstract a computer-printed report of appraised and/or assessed values for each

parcel of real property in a given taxing district; generally sequenced
geographically.

Accrued depreciation see depreciation.

Actual age the number of years elapsed since the original construction, as of the
effective valuation date. Compare with effective age.

Ad valorem tax in reference to property, a tax based upon the value of the property.

Agricultural property land and improvements devoted to or best adaptable for the production of
crops, fruits and timber and the raising of livestock.

Air rights the right to the use of a certain specified space within the boundaries of a
parcel of land and above a specified elevation.

Alley influence the enhancement to the value of a property rising out of the presence of an
abutting alley; most generally applicable to commercial properties.

Amenities in reference to property, the intangible benefits arising out of ownership,

amenity value refers to the enhancement of value attributable to such
amenities.

Appraisal an estimate, usually in written form, of the value of specifically described

property as of a specified date; may be used synonymously with valuation
or appraised value.

Appraisal schedules any standardized schedules and tables used in conjunction with a
revaluation program such as replacement cost pricing schedules,
depreciation tables, land tables, etc.

Appraised value see appraisal.

Appraiser one who estimates value. More specifically, one who possesses the
expertise to execute or direct the execution of any appraisal.

Assessed value see assessment.

Assessing the act of valuing a property for the purpose of establishing a tax base.

Assessment the value of taxable property to which the tax rate is to be applied in order
to compute the amount of taxes; may be used synonymously with assessed
value, taxable value, and tax base.

Assessment district an assessor’s jurisdiction; it may or may not be an entire tax district.

139
Assessment period the period of time during which the assessment of all properties within a
given assessment district must be completed; the period between tax lien
dates.

Assessment ratio the ratio of assessed value to a particular standard of value, generally the
appraised value. A percentage to be applied to the appraised value in order
to derive the assessed value.

Assessment roll the official listing of all properties within a given taxing jurisdiction by
ownership, description, and location showing the corresponding assessed
values for each; also referred to as tax list, tax book, tax duplicate and tax
roll.

Assessor the administrator charged with the assessment of property for ad valorem
taxes; his precise duties differ from state to state depending upon state
statutes.

Aesthetic value a value, intangible in nature, which is attributable to the pleasing appearance
of a property.

Average deviation is a distribution of values, the average amount of deviation of all the values
from the mean value, equal to the total amount of deviation from the mean
divided by the number of deviations. As applied to an assessment-to-sale
ration distribution, the average amount which all the ratios within the
distribution deviate from the mean ratio.

Base rate a value or unit rate established for a certain specified model, and subject to
adjustments to account for variations between that particular model and the
subject property under appraisement.

Blight area a declining area characterized by marked structural deterioration and/or

environmental deficiencies.

Board of Equalization a non-jurisdictional board charged with the responsibility of reviewing

assessments across properties and taxing districts and to assure that said
properties and districts are assessed at a uniform level raising or lowering
assessments accordingly; also referred to as Board of Appeals, and Board
of Review.

Building residual technique a building valuation technique which requires the value of the land to
be a known factor; the value of the buildings can then be indicated by the
capitalizing the residual net income remaining after deducting the portion
attributable to the land.

Capitalization a mathematical procedure for converting the net income which a property
is capable of producing into an indication of its current value. See income
approach.

CDU rating a composite rating of the overall condition, desirability, and usefulness of a
structure as developed by the Cole-Layer-Trumble Company and used
140
 nationally as a simple, direct, and uniform method of estimating accrued
depreciation.

Central business district the center of the city in which the primary commercial, governmental and
recreational activities are concentrated.

Certified assessment evaluator a professional designation (C.A.E.) conferred by the International

Association of Assessing Officers (IAAO) upon qualifying assessors.

Circuit Breaker statutory tax limitation for qualified property owners, whereby the total
taxes paid are capped at a specified percentage of the property owner’s
income

Classified property tax an ad valorem property tax under which the assessment ratio varies for
different property classes.

Component part-in-place method the application of the unit-in-place to unit groups or construction
components. See unit-in-place method.

Corner influence the enhancement to the value of a property rising out of its corner location;
most generally applicable to commercial properties.

Cost approach one of the three traditional approaches to value by which an indication of
the value of a property is arrived at by estimating the value of the land, the
replacement cost or reproduction cost new of the improvement, and the
amount of accrued depreciation to the improvement; the estimated land
value is then added to the estimated depreciated value of the improvements
to arrive at the estimated property value. Also referred to as the cost-to-
market approach to indicate that the value estimates are derived from
market data abstraction and analysis.

Cost factor a factor or multiplier applied to a replacement or reproduction cost to

account for variations in location and time, as well as for other elements of
construction costs not otherwise considered.

Cubic content the cubic volume of a building within the outer surface of the exterior walls
and roof and the upper surface of the lowest floor.

Deed a written instrument, which conveys an interest in real property. A

quitclaim deed conveys the interest described therein without warranty of
title. A trust deed conveys interest described therein to a trustee. A
warranty deed conveys the interest described therein with the provisions
that the freehold is guaranteed by the grantor, his heirs, or successors.

Depreciation loss in value from all causes; may be further classified as physical, referring
to the loss of value caused by physical deterioration; functional, referring to
the loss of value caused by obsolescence inherent in the property itself; and
economic, referring to the loss of value caused by factors extraneous to the
property.

141
 Accrued depreciation refers to the actual depreciation existing in a particular
property as of a specific date.

Normal depreciation refers to that amount of accrued depreciation one

would normally expect to find in buildings of certain construction, design,
quality and age.

Depreciation allowance a loss of value expressed in terms of a percentage of replacement or

reproduction cost new.

Design factor a factor or multiplier applied to a computed replacement cost as an

adjustment to account for cost variations attributable to the particular design
of the subject property which were not accounted for in the particular
pricing schedule used.

Deterioration impairment of structural condition evidenced by the wear and tear caused
by physical use and the action of the elements, also referred to as physical
depreciation.

Economic depreciation see depreciation.

Economic life the life expectancy of a property during which it can be expected to be
profitably utilized.

Economic obsolescence obsolescence caused by factors extraneous to the property. Also referred to
as economic depreciation.

Economic rent the rent which a property can be expected to bring in the open market as
opposed to contract rent or the rent the property is actually realizing at a
given time.

Effective age an age assigned to a structure based upon its condition as of the effective
valuation date; it may be greater or less than the structure’s actual age.
Compare with actual age.

Effective frontage in reference to property valuation, that total frontage, expressed in lineal
feet, to which the unit land value is applied; it may or may not be the same
as the actual frontage.

Effective gross income the estimated gross income of a property less an appropriate allowance for
vacancies and credit losses.

Effective valuation date in reference to a revaluation program, the date as of which the value
estimate is applicable.

Encroachment the displacement of an existing use by another use.

Environmental deficiency a neighborhood condition such as adverse land uses, congestion, poorly
designed streets, etc. operating to cause economical obsolescence and, when
coupled with excessive structural deterioration, blight.
142
Equalization program a mass appraisal (or reappraisal) of all property within a given taxing
jurisdiction with the goal of equalizing values in order to assure that each
taxpayer is bearing only his fair share of the tax load; may be used
synonymously with a revaluation program.

Equity in reference to property taxes, a condition in which the tax load is distributed
fairly or equitably; opposite of inequitable distribution of the tax burden.
Inequity is a natural product of changing economic conditions, which can
only be effectively cured by periodical equalization programs.

In reference to value, it is that value of the property remaining after

deducting all liens and charges against it.

Excessive frontage frontage which because of the particular utility of the lot does not serve to
add value to the lot.

Exempt property see tax exemption.

Fee appraisal see mass appraisal.

Field crew the total professional staff assigned to a specific appraisal project, including
listers, reviewers, staff appraisers, and clerical and administrative
supporting personnel.

Fractional interest see undivided interest

Functional depreciation see depreciation.

Functional obsolescence obsolescence caused by factors inherent in the property itself. Also
referred to as functional depreciation.

Functional utility the composite effect of a property’s usefulness and desirability upon its
marketability.

Grade the classification of any improvement based upon certain construction

specifications, and quality of materials and workmanship.

Grade factor a factor or multiplier applied to a base grade level for the purpose of
interpolating between grades or establishing an intermediate grade.

Grantee a person to whom property is transferred and property rights are granted by
deed, trust instrument, or other similar documents. Compare with grantor.

Grantor a person who transfers property or grants property rights by deed, trust
instrument, or other similar documents. Compare with grantee.

Gross area the total floor area of a building measured from the exterior of the walls.

143
Gross income the scheduled annual income produced by the operation of a business or by
the property itself.

Gross income multiplier a multiplier representing the relationship between the gross income of a
property and its estimated value.

Gross sales the total amount of invoiced sales before making any deductions for returns,
allowances, etc.

Ground lease a document entitling the lessee certain specified rights relating to the use of
the land.

Ground rent net rent from a ground lease; that portion of the total rent which is
attributable to the land only.

Improved land land developed for used by the erection of buildings and other
improvements.

Income approach one of the three traditional approaches to value which measures the present
worth of the future benefits of a property by the capitalization of its net
income stream over its remaining economic life. The approach involves
making an estimate of the potential net income the property may be
expected to yield, and capitalizing that income into an indication of value.

Income property a property primarily used to produce a monetary income.

Industrial park a subdivision designed and developed to accommodate specific types of

industry.

Industrial property land, improvements, and/or machinery used or adaptable for use in the
production of goods either for materials, or by changing other materials and
products, i.e. assembling, processing and manufacturing, as well as the
supporting auxiliary facilities thereof.

Interest rate the rate of return from an investment.

Joint tenancy a legal arrangement in which two or more persons own property together,
each having a claim to the property and also sharing the benefits

Joint tenancy agreement - a document which details the rights and responsibilities of property owners
who own property in a joint tenancy

Land means the land itself, and also buildings, structures, and improvements
Land classification the classification of land based upon its capabilities for use; and/or
production.

Land contract a purchase contract wherein the grantee takes possession of the property
with the grantor retaining the deed to the property until the terms of the
contract are met as specified.

144
Land residual technique a land valuation technique which requires the value of the building(s) to be
known; the value of the land can then be indicated by capitalizing the
residual net income remaining after deducting the portion attributable to the
building(s).

Land use restrictions legal restrictions regulating the use to which land may be put.

Land value maps a map used in conjunction with mass appraising, generally drawn to a small
scale, and showing comparative unit land values, on a block to block basis.

Lease a written contract by which one party (lessor) gives to another party (lessee)
the possession and use of a specified property for a specified time, and under
specified terms and conditions.

Leasehold a property held under the terms of a lease.

Leasehold improvements additions, renovations, and similar improvements made to a leased

property by the lessee.

Leasehold value the value of a leasehold; the difference between the contractual rent and the
currently established economic or market rent.

Legal description a description of a parcel of land which serves to identify the parcel in a
manner sanctioned by law.

Lister a field inspector whose principle duty is to collect and record property data.
(not an appraiser).

Market data approach one of the three approaches to value by which an indication of the value of
a property is arrived at by compiling data on recently sold properties which
are comparable to the subject property and adjust their selling prices to
account for variations in time, location, and property characteristics
between the comparable and the subject property.
Market value the price an informed and intelligent buyer, fully aware of the existence of
competing properties, and not compelled to act, would be justified in paying
for a particular property.

Mass appraisal appraisal of property on a mass scale, such as an entire community,

generally for ad valorem tax purposes, using standardized appraisal
techniques and procedures to affect uniform equitable valuations within a
minimum of detail, within a limited time period and at a limited cost…as
opposed to a fee appraisal which is generally used to refer to a rather
extensive detailed appraisal of a single property or singularly used
properties for a specified purpose.

Member Appraisal Institute a professional designation (M.A.I.) conferred by the American Institute
of Real Estate Appraisers upon qualifying real estate appraisers.

Mineral rights the right to extract subterranean deposits such as oil, gas, coal, and minerals,
as specified in the grant.
145
Minimum base that portion of the rent in a percentage lease which is fixed.

Model method a method of computing the replacement of the reproduction cost of an

improvement by applying the cost of a specified model and adjusting the
cost to account for specified variations between the subject improvement
and the model.

Modernization the corrective action taken to update a property so that it may conform with
current standards.

Mortgage a legal document by which the owner of a property (mortgagor) pledges the
property to a creditor (mortgagee) as security for the payment of a debt.

Neighborhood a geographical area exhibiting a high degree of homogeneity in residential

amenities, land, use, economic and social trends, and housing
characteristics.

Neighborhood trend three stages in the life cycle of a neighborhood…the improving stage
characterized by development and growth; the static stage characterized by
a leveling off of values; and the declining stage characterized by infiltration
and decay.

Net income the income remaining from the effective gross income after deducting all
operating expenses related to the cost of ownership.

Net lease a lease wherein the lessee assumes to pay all applicable operating expenses
related to the cost of ownership; also referred to as net net, or net net net
lease.

Non-conforming use a use which, because of modified or new zoning ordinances, no longer
conforms to current use regulations, but which is nevertheless upheld to be
legal so long as certain conditions are adhered to.

Observed depreciation that loss in value which is discernible through physical observation by
comparing the subject property with a comparable property either new or
capable of rendering maximum utility.

Obsolescence a diminishing of a property’s desirability and usefulness brought about by

either functional inadequacies and over adequacies inherent in the property
itself, or adverse economic factors external to the property. Refer to
functional depreciation and economic depreciation.

Operating expenses the fixed expenses, operating costs, and reserves for replacements which are
required to produce net income before depreciation, and which are to be
deducted from effective gross income in order to arrive at net income.

Overage income rental received in addition to the minimum contract rental based upon a
specified percentage of a tenant’s business receipts.
146
Overall rate a capitalization rate representing the relationship of the net income (before
recapture) of a property to its value as a single rate; it necessarily contains,
in their property proportions, the elements of both the land and the building
capitalization rates.

Over assessed a condition wherein a property is assessed proportionately higher than

comparable properties.

Parcel piece of land held in one ownership.

Percentage lease a type of lease in which the rental is stipulated to be a percentage of the
tenant’s gross or net sales, whichever specified.

Permanent parcel number an identification number, which is assigned to a parcel of land to uniquely
identify that parcel from any other parcel within a given taxing jurisdiction.

Personal property property which is not permanently affixed to and part of the real estate, as
specified by state statutes.

Physical depreciation see depreciation.

Preferential assessment an assessing system which provides preferential treatment in the form of
reduced rates to a particular class of property, such as a system providing
for farm properties to be assessed in accordance to their value in use as
opposed to their value in the open market, as required by law.

Property class a division of like properties generally defined by statutes and generally
based upon their present use. The basis for establishing assessment ratios
in a classified property assessment system. See classified property tax.

Property inspection a physical inspection of a property for the purpose of collecting and/or
reviewing property data.

Property record card a document specially designated to record and process specified property
data; may serve as a source document, a processing form; and/or a
permanent property record.

Public utility property properties devoted to the production of commodities or services for public
consumption under the control of governmental agencies such as the Public
Utility Commission.

Quantity survey method a method of computing the replacement or the reproduction cost of an
improvement by applying unit costs to the actual or estimated material and
labor quantities and adding an allowance for overhead, profit, and all other
indirect construction costs.

Real estate the physical land and appurtenances affixed thereto; of used synonymously
with real property. This term also includes a manufactured home if it is
residential structure; has the moving hitch, wheels, and axles removed; and
147
 is placed upon a permanent foundation either on land owned by the owner
of the home, or pursuant to a leasehold interest in land as specified in NCGS
105-273(13).

Real property all the interests, benefits, and rights enjoyed by the ownership of the real
estate.

Reassessment the revaluation of all properties within a given jurisdiction for the purpose
of establishing a new tax base.

Rent the amount paid for the use of a capital good. See economic rent.

Replacement cost the current cost of reproducing an improvement of equal utility to the
subject property; it may or may not be the cost of reproducing a replica
property. Compare with reproduction cost.

Reproduction cost the current cost of reproducing a replica property. Compare with
replacement cost.

Reserve for replacements a reserve established to cover renewal and replacements of fixed assets.

Residential property vacant or improved land devoted to or available for use primarily as a place
to live.

Revaluation program see equalization program.

Sales ratio study a statistical analysis of the distribution of assessment or appraisal-to-sale

ratios of a sample of recent sales made for the purpose of drawing inferences
regarding the entire population of parcels from which the sample was
abstracted.

Salvage value the price one would be justified in paying for an item of property to be
removed from the premises and used elsewhere.

Site development costs all costs incurred in the preparation of a site for use.

Soil productivity the capacity of a soil to produce crops

Sound value the depreciated value of an improvement.

Sound value estimate an estimate of the depreciated value of an improvement made directly by
comparing it to improvements of comparable conditions, desirability, and
usefulness without first estimating its replacement cost new,

Tax bill an itemized statement showing the amount of taxes owed for certain
property described therein and forwardable to the party(s) legally liable for
payment thereof.

Tax book see assessment roll.

148
Tax district a political subdivision over which a governmental unit has authority to levy
a tax.

Tax duplicate see assessment roll.

Tax exemption either total or partial freedom from tax; total exemption such as that granted
to governmental, educational, charitable, religious, and similar nonprofit
organizations, and partial exemption such as that granted on homesteads,
etc.

Tax levy in reference to property taxes, the total revenue which is to be realized by
the tax.

Tax list see assessment roll.

Tax mapping the creation of accurate representations of property boundary lines at

appropriate scales to provide a graphic inventory of parcels for use in
accounting, appraising and assessing; such maps show dimensions and the
relative size and location of each tract with respect to other tracts.

Tax notice a written notification to a property owner of the assessed value of certain
properties described therein; often mandated by law to be given to each
property owner following a revaluation of his property.

Tax rate the rate generally expressed in dollars per hundred or dollars per thousand
(mills) which is to be applied against the tax base (assessed value) to
compute the amount of taxes. The tax rate is derived by dividing the total
amount of the tax levy by the total assessed value of the taxing district.

Tax roll see assessment roll.

Taxing unit means a county or municipality authorized to levy Ad Valorem property

taxes

Tillable land land suitable for growing annual crops.

Under assessed a condition wherein a property is assessed proportionately lower than

comparable properties.

Undivided interest a fractional interest owned by two or more persons such as tenants in
common or joint tenancy

Uniformity as applied to assessing, a condition wherein all properties are assessed at the
same ratio to market value, or other standard of value depending upon the
particular assessing practices followed.

Unimproved land vacant land; a parcel for which there is no improvement value.

Unit cost or price the price or cost of one item of a quantity of similar items.

149
Unit-in-place method a method of computing the replacement or reproduction cost of an
improvement by applying established unit-in-place rates, developed to
include the cost of materials, equipment, labor, overhead and profit, to the
various construction units.

Use density the number of buildings in a particular use per unit of area, such as a density
of so many apartment units per acre.

Use value the actual value of a commodity to a specific owner, as opposed to its value
in exchange or market value.

Vacancy an unrented unit of rental property.

Vacant land unimproved land; a parcel for which there is no improvement value.
Valuation means appraisal and assessment, also see appraisal.

View the scene as viewed from a property.

Water frontage land abutting on a body of water.

Woodland land which is fairly densely covered with trees.

Zoning regulations governmental restrictions relating to the use of land.

150
 STATISTICAL TERMS

Aggregate ratio as applied to real estate, the ratio of the total assessed value to the total
selling price.

Average deviation in a distribution of values, the average amount of deviation of all the values
from the mean value equal to the total amount of deviation from the mean
divided by the number of deviations.

Cells the basic units making up a stratified sample; each sale representing a
distinct group within the total universe.

Coefficient a value prefixed as a multiplier to a variable or an unknown quantity.

Coefficient of dispersion as applied to an assessment-to-sale ratio distribution, a measure of

dispersion in a given distribution equal to the average deviation of the ratios
from the mean ratio divided by the mean ratio.

Frequency distribution a display of the frequency with which each value in a given distribution
occurs; or in a grouped frequency distribution, a display of the frequency
with which the values within various intervals, or value groups, occur.

Mean a measure of central tendency equal to the sum of the values divided by the
number. Also referred to as arithmetic average or arithmetic mean.

Median a measure of central tendency equal to that point in a distribution above

50% of the values fall and below which 50% of the values fall. The 50 th
percentile.

Mode a measure of central tendency equal to that value occurring most frequently
in a given distribution. In a grouped frequency distribution, the mode is
equal to the midpoint of the interval with the greatest frequency.

Normal distribution a distribution in which all the values are distributed symmetrically about the
mean value, with 68.26% of the values falling between +/- 1 standard
deviation, 95.44% between +/- 2 standard deviations, and 99.74% between
+/- 3 stand deviations.

Percentile rank the relative position of a value in a distribution of values expressed in

percentage terms; for instance, as applied to as assessment-to-sale ratio
distribution, a ratio with a percentile rank of 83 would indicate that 83% of
the ratios were lower and 17% of the ratios were higher than that particular
ratio.

Precision as applied to real estate, it refers to the closeness of estimated value to actual
selling price on an aggregate basis.

Price related differential as applied to real estate, an analytical measure of the vertical uniformity of
values in a given distribution calculated by dividing the mean ratio by the
151
 aggregate ratio; a ratio of more than 1 being generally indicative of the
relative undervaluation of high priced properties as compared to the less
valuable properties, whereas a ratio of less than 1 would indicate the
converse relationship.

Quartile positions in a distribution at 25 percentile intervals; the first quartile being

equal to the 25th percentile, the second quartile being equal the 50th
percentile or the median, and the third quartile being equal to the 75 th
percentile.

Regression analysis a statistical technique for making statements as to the degree of linear
association between a criterion (dependent) variable and one or more
predicator (independent) variables; a simple linear regression having one
independent variable, and multiple linear regression having more than one
independent variable.

Range the difference between the highest and the lowest value in a distribution.

Ratio a fixed relationship between two similar things expressed in terms of the
number of times the first contains the second; the quotient of one quantity
divided by another quantity of the same type, generally expressed as a
fraction.

Sample as applied to real estate, a set of parcels taken from a given universe which
is used to make inferences about values for the universe.

A probability sample is a sample in which each parcel in the universe is

given equal chance of being included. Also referred to as random sample.

A non-probability sample is a sample in which each parcel in the universe

being chosen by other criteria is not given an equal chance of being
included. Essentially all assessment-to-sale ratio studies are non-
probability samples.

Sample size as applied to real estate, the number of parcels needed from a universe to
achieve a desired level of precision, given the total number of parcels in the
universe and the standard deviation thereof.

Standard deviation a measure of dispersion, variability or scatter of values in a given

distribution equal to the square root of the arithmetic mean of the squares
of the deviations from the mean.

Standard error of the mean a measure of the statistical variability of the mean equal to the standard
deviation of the distribution divided by the square root of the sample size.
152
Stratified sampling the selection of sample parcels from distinct groups within the total universe
based upon the known sizes and characteristics of these distinct groups.

Universe as applied to real estate, all the parcels of a given type in the group under
study, i.e., all the parcels of a given neighborhood, district, etc. Also
referred to as population.

153