Thursday, May 31, 2007

Kay County Courthouse

Newkirk, OK 74647

The Kay County Equalization Board met in special session on Thursday, May 31, 2007,

10:00 o’clock a.m. in the Commissioners Court of the Kay County Courthouse in Newkirk, Oklahoma. Notice of the meeting was posted on May 29, 2007 at the Courthouse front door, Commissioners Court, and basement handicapped entrance of the Kay County Courthouse in Newkirk, Oklahoma.

Chairman Harden called the meeting to order. Those present were as follows: Floyd Harden, Chairman; J. C. Estes, Vice-Chairman; Joe Cary, Member; Judy Barnes, Kay County Assessor; Tammy Reese, Secretary/Kay County Clerk.

Motion was made by Estes and seconded by Cary approving special session meeting minutes of May 16, 2007. Motion carried: Cary, aye; Estes, aye; Harden, aye.

There were no Notices of Approval or Disapproval by County Board Equalization & County Assessor of Manufacturer’s Ad Valorem Tax Exemptions.

The Board discussed and considered extensively Continental Carbon’s “Formal Appeal to the Kay County Board of Equalization” before making their final decisions.

J. C. Estes said after reading and studying the information provided by Mr. Kirk Glasby, Ducharme, McMillen & Associates, Inc. representing Continental Carbon and Mr. C. Wayne Frazell, a personal property appraiser with Pritchard & Abbott representing the Kay County Assessor’s office, Estes said he was leaning toward the possibility of dropping the valuation 1/2 – 1%. He arrived at this conclusion due to the fact Continental Carbon lost a tire plant (Dayton Tire) a loss of a 20% customer.

Joe Cary said he didn’t feel he could justify his decision based on the tire plant that closed in December 2005. Cary mentioned even though Continental Carbon proclaimed a declining market they were still purchasing more equipment. Cary said he does not feel he has the knowledge to adjust and feels like Pritchard & Abbott’s evaluation would be more advisable, stating Mr. Frazell is a qualified appraiser.

Floyd Harden commented he has studied the matter backwards and forwards and concluded it was beyond his expertise to justify making any changes. Harden said the county hired an expert to appraise the situation and repeated he was not qualified to make any adjustments.

Motion was then made by Cary and seconded by Harden accepting the appraisal from Pritchard & Abbott to make no changes in the assessment. Motion carried: Cary, aye; Estes, nay; Harden, aye.

The Board discussed Ms. Fumiko Phillips “Formal Appeal to the Kay County Board of Equalization.” Members stated they looked at Ms. Phillip’s property and believed her home was located in an undesirable neighborhood.

Motion was made by Estes and seconded by Cary accepting the market value price of the property as $30,000 as requested by Ms. Phillips, claimant. Motion carried: Cary, aye; Estes, aye; Harden, nay.

The Board discussed Ms. Sheets “Formal Appeal to the Kay County Board of Equalization.” Members commented on the renovation done to the house in question and said it was not comparable to houses in that particular area.

Motion was made by Cary and seconded by Estes to leave as appraised by Assessor’s office. Motion carried: Cary, aye; Estes, aye; Harden, aye.

Motion was made by Estes and seconded by Cary to adjourn final action for the 2007 Session of the Kay County Equalization Board at 10:44 a.m. Motion carried: Cary, aye; Estes, aye; Harden, aye.

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Approved this_____day of___________________, 2007.

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FLOYD HARDEN, CHAIRMAN

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J. C. ESTES, VICE-CHAIRMAN

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JOE R. CARY, MEMBER

ATTEST:

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TAMMY REESE, COUNTY CLERK

COUNTY OF KAY, STATE OF OKLAHOMA

SECRETARY, COUNTY EQUALIZATION BOARD

(SEAL)

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