HomeMy WebLinkAboutAgenda 04-02-2019 4-d - Update on Current Tax Base and 2021 Countywide Revaluation 1
ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: April 2, 2019
Action Agenda
Item No. 4-d
SUBJECT: Update on Current Tax Base and 2021 Countywide Revaluation
DEPARTMENT: Tax Administration
ATTACHMENT(S): INFORMATION CONTACT:
PowerPoint Presentation Dwane Brinson, Tax Administrator,
(919) 245-2726
PURPOSE: To update the Orange County Board of Commissioners on the current state of
taxable property in Orange County, and provide an overview of the 2021 revaluation process.
BACKGROUND: Counties in North Carolina are required to conduct a revaluation of all real
property at least once every eight (8) years. Orange County, like many other counties, has
adopted a resolution to advance the cycle to once every four (4) years. The last revaluation of
real property in Orange County took effect January 1, 2017, and the next is scheduled for
January 1, 2021.
FINANCIAL IMPACT: There is no financial impact associated with 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.
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2019 Real Update
T. Dwane Brinson, CAE
Orange County Tax Administrator
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General Information
All 2017 revaluation appeals have been resolved.
Currently accepting and working with taxpayers on appeals for the 2019 tax year.
Have begun working on the revaluation to take effect January 1 , 2021 .
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New NCDOR Standards
NCDOR issued new procedural standards for all 100 counties.
I% random sample of improved properties due September I, 2018
Square Footage Data: NCDOR Standard — 95%,Orange County— 98.21
Objective Data: NCDOR Standard — 95%,Orange County— 98.30%
Subjective Data: NCDOR Standard — 90%,Orange County— 97.1 1
Reappraisal plan due January I, 2019
Budget
Staffing levels
Outsourcing needs
Timeline
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2021 Revaluation Timeline
• January 2019 — December 2019: Initial property visits
• January 2019 — December 2020: Sales analysis
• January 2019 — September 2019: Land pricing
• January 2019 — December 2020: Data entry
• January 2019 — December 2020: Testing
• May 2020 —August 2020: Building of Schedule of Values
• September 2020 — November 2020: Adoption of Schedules
• December 2020 — February 2021 : Notices of Value
• January 2021 —June 2021: Appeals
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2018 Market Sales Statistics — NCDOR Annual Report
Number of qualified market sales: 421
Sales ratio measurement
Median = .91
Mean = .932
COD = 12.99
PRD = 1 .014
Range = 1 .604
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Community Initiatives
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2021 Revaluation Community Initiatives
Public Comper
Simple, convenient way to find and compare sales
Available to anyone, anywhere — no need to spend money on an private appraisal to appeal
Effective method of appealing
Online Property Record Card (PRC) and Change Request
Easy-to-understand format to review property characteristics
Method to electronically submit a change request to appraisal staff
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IMPORTANT TALC DATES AND REMINDERS !
Orange County Tax Administration
P.D. Box 8181 , Hillsborough, NC 27278 91 9-245-21 00 tax@orangecountync.gov
January is the time to apply for exemptions or exclusions_ Programs may be available for those at least 65 years of age or
disabled, with an income under$30,200, 100% disabled veterans and other programs_ Call our office for details, or visit
our online Property Tax Assistance Evaluator for a convenient way to prequalif - hilp.11bit.Iyl0CNC TaxPregualify
In ,January of each year personal property must be listed:
v All Business Personal Property (even home businesses).
_ V Any Permanently Tagged Trailers. Unregistered, Untagged Motor Vehicles such as camp-
`` � y ers, motor homes, cars, trucks, motorcycles, boat trailers and AT 's WITHOUT TAGS_
v" All aircraft, farm equipment, boats, motors, jet slay and all other watercraft.
Manufactured or Mobile Homes NOT billed as Real Estate.
Real property, like your house and land, are listed permanently, but you are required to list any changes
each January. if you have no real property changes to report, then no further action is required.
Any changes to a structure such as adding area, building a deck, renovations, finishing a basement, etc.
Adding a storage building, carport, new home, garage, etc.
Removal or damage to an existing structure.
If you need a Listing Fomm, and did not receive one, visit ourwebsite or contact the Tax Office.
You may review your property and its value, and provide notice of a change for real property conveniently
through our electronic tool here: https:llprcped est_spat!alesLcomfncicrangef#I
Per State law, 10% penalty applies when a listing is required to be returned and is not by January 31 . If you awn no
personal property and have not made changes to your real property, no listing foram is required to be returned.
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Questions?