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2 <br />2009 Orange County Revaluation Report <br />APPEAL DATA <br />The 2009 revaluation became effective January 1, 2009 amid a nationwide recession and <br />constant national news reports of significant real estate declines. The 2009 revaluation <br />averages, however, reflected Orange County overall real estate value increases since <br />January 1, 2005 .(previous revaluation effective date) of twenty-four percent. In 2009 <br />approximately 5,026 informal appeals and 1,656 formal appeals were filed, reviewed, and <br />decided on by appraisal staff and the Board of Equalization and Review. The results of <br />these efforts are described as follows: <br />Informal Anneals: <br />Informal appeals were accepted and reviewed from December 10, 2009 through the <br />month of March 2010. <br />5,026 property values appealed <br />3,073 property values adjusted <br />1,953 property values unchanged <br />Formal Anneals: <br />The results of the informal reviews were mailed in mid April with appellants notified of <br />their right to appeal further to the Board of Equalization and Review. This Board began <br />the formal hearing process in April and continued through mid December 2010. <br />* 1,656 property values appealed <br />*992 property values adjusted (99% downward) <br />*664 property values unchanged (469 appealed with no change, 77 canceled, <br />and 118 no shows) <br />*All are approximates <br />North Carolina Property Tax Commission Anneals: <br />The Board of Equalization and Review mailed decision notices periodically during 2010 <br />and in these notices appellants were further informed of their rights to appeal further to <br />the North Carolina Property Tax Commission. <br />There are currently 182 properties under appeal to the Property Tax Commission. <br />