HomeMy WebLinkAboutAgenda - 02-07-2001-8f
ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: February 7, 2001
Action Agenda
Item No.
SUBJECT: Property Value Changes
DEPARTMENT: Assessoras Office PUBLIC HEARING: (Y/N) No
ATTACHMENT(S): INFORMATION CONTACT:
John Smith, ext 2101
Resolution
Spreadsheet TELEPHONE NUMBERS:
Hillsborough 732-8181
Chapel Hill 968-4501
Durham 688-7331
Mebane 336-227-2031
PURPOSE: To consider approving value changes made in property values after the 2000
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 largest of these releases is a Property Tax Commission appeal of the Lowes property in
Chapel Hill, which has just been decided in the Property Tax Commission (PTC) proceedings.
Two appraisals were made on this property as part of the PTC proceedings. The first indicated
a value of $10,600,000 and the second, a value of $11,500,000. Upon agreement by all parties
involved, the Property Tax Commission decided on a value of $11,000,317. According to GS
105-290(3), once a certified copy of the PTC order is issued, a county must correct the
abstracts and tax records to reflect the Commission's order.
FINANCIAL IMPACT: Approval of these changes will decrease assessed value by $ 3,887,796
for 2000. This will result in a net decrease in revenue of $ 69,279.79 to the County,
municipalities, and special districts. The largest of these releases is related to a 1999 Property
Tax Commission appeal on the Lowes property in Chapel Hill that has just been decided. This
release totals $59,679.54. Staff was aware of the potential of this decision and accounted for it
in the department's annual budgetary projections. Therefore, this action will not create any
budgetary problems.
RECOMMENDATION: The County Manager recommends that the Board adopt the resolution
approving the attached value changes.
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 2000.
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:
1, Beverly A. Blythe, 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 ,
2001
Clerk to the Board of Commissioners
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