HomeMy WebLinkAboutAgenda - 02-03-2009 - 4d 1
ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: February 3, 2009
Action Agenda
item No.
SUBJECT: Property Value Changes
DEPARTMENT: Assessor's Office PUBLIC HEARING: (YIN) No
ATTACHMENT(S): INFORMATION CONTACT:
John Smith, 245-2101
Resolution
Spreadsheet
PURPOSE: To consider approving changes made in property values after the 2008 Board of
Equalization and Review has adjourned.
BACKGROUND: North Carolina General Statute 105-325(a) provides in part that "After the
board of equalization and review has finished its work and the changes it affected or ordered
have been entered on the abstracts and tax records as required by G.S. 105-323, the board of
county commissioners shall have the authority to make changes on the abstract and tax
records." This section further enumerates the circumstances under which a board of
commissioners can make valuation changes.
The Orange County Board of Equalization and Review adjourned on June 11 , 2008. Since that
time staff has identified the need to change values as indicated on the attached spreadsheet in
accordance with statutory provisions.
FINANCIAL IMPACT: Approval of these changes will decrease assessed value by $2,458,739
for 2008. This will result in a net decrease in revenue of $46,541 .32 to the County,
municipalities, and special districts. For FY 2008/2009, the total net reduction in revenues is
$65,462.84.
RECOMMENDATION(S): The Manager recommends the Board adopt the resolution
approving the attached value changes.
2
NORTH CAROLINA
ORANGE COUNTY
VALUE CHANGE RESOLUTION
Whereas, North Carolina General Statutes 105-325 empowers the Board of County
Commissioners to order changes to tax records after the Board of Equalization and Review has
adjourned; and
Whereas, the Board of Equalization and Review has adjourned for the year 2008.
NOW, THEREFORE, IT IS RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF ORANGE COUNTY THAT the recommended property tax value changes are
ordered.
Upon motion duly made and seconded, the foregoing resolution was passed by the following
votes:
Ayes: Commissioners
Noes:
I, Donna Baker, Clerk to the Board of Commissioners for the County of Orange,North
Carolina, DO HEREBY CERTIFY that the foregoing has been carefully copied from the recorded
minutes of the Board of Commissioners for said County at a regular meeting of said Board held on
said record having been made in the Minute Book of the minutes of said Board, and is
a true copy of so much of said proceedings of said Board as relates in any way to the passage of the
resolution described in said proceedings.
WITNESS my hand and the corporate seal of said County, this day of
2009.
Clerk to the Board of Commissioners
•
VALUE CHANGES (GS 105-325)
• February 3, 2009
Value Rate Financial Property
Name Map Ref Tract# Old Value New Value Difference Code Impact Description Reason for Adjustment
Capkov Ventures Inc 7.171..1 773563 2,451,760 54,484 -2,397,276 21 45,891.05 Land Value Change is for 2008
__■__Tract is a 2.95 acre tract that was thought
to be used as future development for the
-- Winmore subdivision. Owner provided
documentation from the Town of Chapel
Hill severely limiting its development and
-- 1111--use.
Cynthia Suggs 6.33..40 643587 210,956 149,493 -61,463 01 -650.27 Art Studio Value Change is for 2008
Property was originally assessed as a
residence, however, an interior inspection
revealed that the property is used as an
art studio having no kitchen, hvac and
unfinished interior construction.
2,458,739 Mil -46,541.32