Agenda - 03-24-2009 - Laserfiche WebLink

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GRANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: March 24, Zoo9 Action Agenda Item No. ~ SUBJECT: 2009 Revaluation and lm acts an Count 's FY 2009~~ 0 Bud et DEPARTMENT: County Manager, Tax PUBLIC HEARING: ~YIN~ No Assessor and Budget ATTACHMENT(S): Attachment ~. March ~ 1, 2009 Revaluation Analysis INFORMATION CONTACT: Laura Blackmon, (919) 245-2300 John Smith, (919) 245-2100 Donna Coffey, (919) 245-2151 Attachment 2. ~lrnpacts of Revaluation Charts Attachment 3, Comparison of 2009 Revaluation Outcomes in Other NC Counties Attachment 4. FY 2009•o Revaluation Impacts on County's FY 2909 ~o PURPOSE: For the Board to receive a report on and make decisions regarding the County's 2009 Revaluation and its potential impacts an the County's FY 2009-~ 0 budget. BACKGROUND: On March ?', 2009, the Tax Assessor presented an analysis of the 2009 Revaluation to the Board. Attachment ~ of this agenda abstract provides a copy of the presentation. Since that time staff has completed further analyses of the Revaluation process and received information from the NC Department of Revenue regarding Revaluation outcomes in other NC counties. Attachments Z and 3 provide that information. In addition, staff has also analyzed how possible BC~CC decisions regarding the Zoo9 Revaluation would impact the County's upcoming FY Zoo9-14 budget. For purposes of tonight's work session discussion, staff selected four sets of circumstances to analyze: • Scenario ~ . Real Property Values Increased Due to 2009 Revaluation, All Properties Assessed Revenue Neutral Tax bate e Scenario 2. Real Property Values increased Due tv 2409 Revaluation, Real Property Cwner~ Whose Property Increased 24°/~ or Less compared to. 2008 valuations} "Held Harmless"