HomeMy WebLinkAboutAgenda - 03-01-2012 - 3ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: March 1, 2011
Action Agenda
Item No. ~
SUBJECT: Presentation Regarding the 2013 Revaluation of Real Property
DEPARTMENT: Tax Administration
PUBLIC HEARING: (Y/N) No
ATTACHMENT(S):
None.
INFORMATION CONTACT:
Jenkins S. Crayton, (919) 245-2735
PURPOSE: To receive a presentation of interesting facts about the current revaluation
including information about the 2009 revaluation, current economic conditions, and potential
impacts.
BACKGROUND: Sales prices for real property moved abruptly during 2011 after two years of
little change, but assessment equity is excellent. The declining volume of sales will make
maintaining that equity a challenging task. With some useful indicators now available, decision
makers can begin planning for the fiscal effects.
FINANCIAL IMPACT: The presentation includes information about financial impacts
anticipated for the 2013-2014 fiscal year. The information in regards to the presentation will be
provided at the work session.
RECOMMENDATION(S): The Manager recommends that the Board receive the presentation.