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HomeMy WebLinkAboutAgenda - 10-03-2000-8cORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: October 3, 2000 Action Agen a Item No. -~. SUBJECT: Adoption of Schedule of Values for 2001 Revaluation DEPARTMENT: Assessors Office PUBLIC HEARING: (Y/N) No ATTACHMENT(S): None INFORMATION CONTACT: John Smith, ext 2101 TELEPHONE NUMBERS: Hillsborough 732-8181 Chapel Hill 9fi8-4501 Durham 688-7331 Mebane 336-227-2031 PURPOSE: To consider adoption of the schedule of values, standards, and rules to be used in appraising real property in Orange County effective January 1, 2001. BACKGROUND: In accordance with the North Carolina General Statutes, the County Assessor has submitted the proposed schedule of values, standards, and rules to be used in appraising real property in Orange County effective January 1, 2001 and throughout the period until a subsequent revaluation is conducted. Copies of this schedule of values have been made available for inspection by the public in the Assessor's Office. The Board conducted the required public hearing on the schedule of values at the September 19, 2000 regular meeting. State statutes require that notice of the Board's order approving the schedule of values be published once a week for four successive weeks with the last publication being not less than seven days before the last day for challenging the validity of the schedules, standards, and rules by appeal to the Property Tax Commission. Property owners who feel that the schedule is invalid have 30 days within which to appeal from the first date of publication of the notice of the order approving the final schedule of values. If there are no appeals to the adopted schedule of values, the Assessor will be prepared to send out 2001 valuation notices to real property owners by early December. FINANCIAL IMPACT: None RECOMMENDATION: The Manager recommends that the Board approve the final schedule of values, standards and rules, and direct the Assessor to observe all statutory requirements related to public notice about the schedule of values.