Appraising textile equipment miscellaneous personal property topics
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Appraising Textile Equipment & Miscellaneous Personal Property Topics. NCDOR Advanced Personal Property Seminars Greensboro, NC September 13-15, 2010 Gregg Martin, Property Tax Division North Carolina Department of Revenue. Treatment of Textile Mill Equipment.

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Appraising Textile Equipment & Miscellaneous Personal Property Topics

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Appraising Textile Equipment & Miscellaneous Personal Property Topics

NCDOR Advanced Personal Property Seminars

Greensboro, NC

September 13-15, 2010

Gregg Martin, Property Tax Division

North Carolina Department of Revenue


Treatment of Textile Mill Equipment

  • During the Late 1980s Equipment manufactured prior to 1985 was treated differently than other industries

  • Residual value was set at 15 %

  • This was due to significant technology changes in yarn spinning, knitting and weaving


Treatment of Textile Mill Equipment

  • For Tax Year 1990 a modification occurred

  • The application of 15 % residual value was limited to equipment manufactured prior to 1981

  • This treatment continued until Tax Year 2000


Treatment of Textile Mill Equipment

  • For Tax Year 2000 a modification occurred

  • Reference to date of manufacture removed

  • Residual value remained at 15%

  • A separate section of Schedule A was created for Textile Mill Equipment and Dye and Finish Equipment


Treatment of Textile Mill Equipment

  • For Tax Year 2002 a modification occurred

  • Residual Value was established at 10%

  • No reference to year of manufacture


Treatment of Textile Mill Equipment

  • For Tax Year 2003 a modification occurred

  • Residual Value was set at 5%

  • New Description of Idle Equipment

  • The Textile Mill Equipment and Dye and Finishing Equipment section of Schedule A decreased percent good factors by 8-15% per year prior to residual value


Treatment of Textile Mill Equipment

  • For Tax years 2004-2009 there were no modifications to the treatment of Textile Mill Equipment and Dye and Finishing Equipment from guidelines established for Tax Year 2003


Treatment of Textile Mill Equipment

  • For Tax Year 2010 a modification occurred

  • Special Sub-schedule for Textile Mill Equipment and Dye and Finishing Equipment was moved to memorandum from Schedule A

  • Counties encouraged to determine applicability of Special Sub-schedule


Analysis of Textile Mill Equipment

  • Textile mill equipment is used in the manufacture of Spun Yarn and Woven and Knit Fabric

  • Equipment used in the manufacture of apparel and other finished products utilizing yarn and or fabric are appraised using other guidelines


Analysis of Textile Mill Equipment

  • Two methods of producing yarn

  • Chemical Process formulates polymer compounds to extrude single filament yarn and cut fiber to be used in the mechanical process

  • Mechanical process uses a mechanical ‘spinning’ or ‘twisting process’ to manufacture yarn by binding cut fibers through friction


Analysis of Textile Mill Equipment

  • The special schedules address the equipment used in the mechanical process

  • Ring Spun

  • Open End

  • Air Jet

  • Water Jet

  • Vortex


Analysis of Textile Mill Equipment

  • Technologies have advanced to increase operating speeds and output

  • Quality issues have resulted in continued use of Ring Spun technology and actual increases in this production method during recent years

  • Advance in spinning technology have not resulted in abandoning the oldest technology


Analysis of Textile Mill Equipment

  • Woven fabric is manufactured using mechanical shuttle, air jet and water jet processes

  • Most weaving technology improvements have been utilized for versatility of manufacturing


Analysis of Textile Mill Equipment

  • Fabrics are knit through the mechanical processes of Circular Knitting or Flat Bed Knitting

  • Advances have been more for versatility of manufacturing


Analysis of Textile Mill Equipment

  • Non-woven fabrics are manufactured using the latest advances in technology and materials

  • Tyvek

  • Handi-wipes

  • Specialty fabrics

  • This portion of the industry should be appraised using regular schedules


Analysis of Textile Mill Equipment

  • Dye and Finishing Equipment

  • Basic mechanical technology has not seen significant change or advances

  • Most significant change has occurred in the chemical properties of synthetic fibers and the actual dyes and chemicals used in the process


Treatment of Textile Mill Equipment

  • Establish a separate schedule to avoid confusion

  • Probable that all equipment used in the mechanical processes of Yarn Spinning; Fabric Knitting and Weaving; and Dye and Finishing will receive accelerated depreciation and lower residual values


Wind Power Equipment

  • We are beginning to see limited installation of Wind Turbines used to generate electricity

  • Most probable locations of equipment are in coastal areas

  • Study being undertaken by CAMA

  • NC has 14 % of estimated potential wind power generation capacity in US


Wind Power Equipment

  • Presently recommending the use of schedule T-18

  • Generation equipment is very similar to other mechanical generation method

  • As placement increases, better information on valuation will become available


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