HomeMy WebLinkAboutC.054.93010_0961Weisner said this was correct, and it was to be used on all qualifying tracts. He also
said that basically the value of an acre of land was figured on how long it would take to
recapture the land value as a rate of return.
Commissioner Williams said that four years ago most of the county's farmland
realized about a 40% increase in value. He said that it appeared that farm owners would be
looking at about the same amount in the upcoming revaluation. Mr. Williams said, "In
1998, milk was selling Pt $1690 a hundred weight, but today a person would be lucky to
get $12 a hundred weight. Broilers were at 40¢ a pound, but now they are at 36¢. Cotton
was bringing 65¢ a pound, but now it's 31¢. Soybeans were at $5.03 a bushel, but today
they are $4.20. (However, due to the drought not many people have them and some might
receive $5.69.) Corn was at $2.33 a bushel, but now it's $2.30. Wheat was at $2.55 a
bushel, and it is still selling for about that price. Hay was $80 a ton, and now it's $77 a ton.
At the same time the commodities prices have shown a definite drop, fertilizer has gone
from $168 a ton to $240 a ton" Mr. Williams said it was evident that costs for farmers had
increased while their prices had dropped. He stressed that agriculture was the county's
number one industry generating over $100 million per year, and that this money turned over
three or four times just within this area alone.
OT10 by Commissioner Williams to instruct the county assessor's office to set
the capitalization rate at 7.0% on all cultivated croplands and horticultural lands.
(NOTE: Weisner said the forestry cap (9.0%) could not be revised because it was mandated
by state statutes. Also, he said 7.0% was the highest amount allowed by the statutes for
agricultural/horticultural lands,)
VOTING: Ayes - 4; Nays - 0.
w --____.________________-.—_--___.--CONSENT AGENDA ---------__-__
IOTIO by Commissioner Tice to approve the following eight (8) consent
agenda items.
VOTING: Ayes - 4; Nays - 0.
1. Request from the Iredell-Statesville School System for Approval to Purchase
Property for a new Middle & Elementary School Complex: Using funds from the
2000 Installment Payment Revenue Bond, officials with the Iredell-Statesville School
System requested permission to purchase 104 acres to build a new middle and elementary
school complex at Wallace Springs Road and Arey Road in the western area of Iredell
County.
2. Request from the Department of Transportation for Approval of the
Abandonment of a Portion (500 linear ft.) of Perth Road (SR -1303): During the
briefing, Planning Supervisor Smith said the Department of Transportation had requested
approval to abandon 500 linear feet of roadway on SR -1303. He said a staff member had
reviewed the request and recommended approval.
3. Approval of an Amended Capital Project Ordinance & Approval of
Budget Amendment #s 19 & 20 for the Installment Payment Revenue Bonds, Series
2000: Amendment #19 will recognize an operating transfer of $1,759,100 from the
School Capital Project Fund (2000/Installment Payment Revenue Bonds) for
reimbursement of debt service paid on bonds ($1,508,877 to Iredell-Statesville and
$250,223 to Mooresville Graded). Amendment #20 transfers $1,508,877 from the
Iredell-Statesville Schools' Debt Service to capital outlay and the same occurs for the
Mooresville Graded Schools with the exception that the transferred amount is $250,223.
The ordinance is as follows:
Iredell County, North Carolina
Project Ordinance
School Projects