HomeMy WebLinkAboutAgenda - 02-21-2017 - 4-c - 2017 Orange County Revaluation Results 1
ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: February 21, 2017
Action Agenda
Item No. 4-c
SUBJECT: 2017 Orange County Revaluation Results
DEPARTMENT: Tax Administration
ATTACHMENT(S): INFORMATION CONTACT:
Dwane Brinson, Tax Administrator,
(919) 245-2726
PURPOSE: To receive an overview of the statistical results of the 2017 countywide revaluation.
BACKGROUND: North Carolina counties must conduct a revaluation at least once every eight
years. Orange County's last revaluation took effect January 1, 2009. The effective appraisal
date of the 2017 revaluation is January 1, 2017.
Orange County has approximately 55,500 real property parcels. During the revaluation process,
each of those parcels has been modified to reflect a current estimate of market value. Tax office
staff began working on the 2017 revaluation in 2014.
In January 2016, the tax office proactively sent each real property owner a snapshot of the
property's public record and a request to review the information for discrepancies, and return it
to the Tax Office with any discrepancies noted. This allowed for appraisal staff to verify and
ensure the records were accurate in preparation for the revaluation.
Prior to the 2017 revaluation, Orange County had only two defined neighborhoods set up in the
appraisal database. A neighborhood is basically defined as a group of similar properties. A
common example of a neighborhood would be a subdivision. As part of the process, staff
defined more neighborhoods, thereby allowing better organization and pricing models for the
current and future revaluations. The County database now has 975 identified neighborhoods.
A significant by-product of the revaluation is the improvement of the building use information in
the tax database. In the past, requests for information such as the percentage of residential
versus commercial in the tax base required Information Technologies programming and
assistance. Throughout the 2017 revaluation, staff proactively invested the time to identify and
code each of the 55,500 parcels with its corresponding building use such as single-family
residential, restaurant, or student housing. Reporting for 2017 and forward will be much easier
and more accurate because of these efforts.
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The effective appraisal date for the 2017 revaluation is January 1, 2017. Notices are on
schedule to be mailed the last week of February. Informal appeals will begin immediately after
taxpayers begin receiving notices of value. The Board of Equalization and Review will convene
May 1st and begin hearing formal appeals.
FINANCIAL IMPACT: There is no financial impact associated with receiving this presentation.
SOCIAL JUSTICE IMPACT: There is no Orange County Social Justice Goal impact associated
with this item.
RECOMMENDATION(S): The Manager recommends that the Board receive the presentation.