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~G ! <br />1 <br />if I f1 U T E S <br />ORANGE COUNTY 3OARD Or^ CONtB;ISSI0I7ERS <br />REGULAR b7EETIPIG <br />SEPTEMBER 4, 1984 <br />The Orange County Board of Commissioners met in regular session on Septem- <br />ber ~- 1984 at 7:30 in the Commissioners' Room of the Orange County Courthouse, <br />Iiillsborough, North Carolina. <br />Commissioners Present: Chair Don T•~illhoit, and Commissioners Shirley <br />I~larshall, Ben Lloyd, h7orman z^7alker and Richard Whitted. <br />A. B~~RD CQj~1i•'lI;P7T~ <br />Chair :~7i11hoit announced that at the recuest of Commissioner L].oyd anc the <br />Cheeks Township Ac,visory Committee the zoning for Cheeks Township has been <br />delayed and will be on the agency the first i':onday in October. <br />m r,, E ~~ <br />None <br />~ ~ Q1,I ~'HE- PRI~~P A,~'NDA <br />None <br />C. r FS <br />t•Zotion was made by Commissioner 'larshall, <br />to approve the I~ay 7 minutes as corrected. <br />VOTE: UP7APIIi•1OUS. <br />seconded by Commissioner Lloyd <br />b. O ~m ,, <br />Idotion was made by Cor:missioner f•farshall, seconded by Commissioner f'7hitted <br />to appoint Leo F?oover to the f^Tebane Board of Adjustment. <br />VOTE: UPIA?^]IMOUS. <br />E. ~ ~l <br />1~..-..~3A~L~F S N F i F r (see <br />permanent agenda file for a copy of the complete report) <br />Kermit Lloyd, Tax Supervisor,. gave a report or_ the state of the pro- <br />perty tar, in Orange County. fie emphasized "hot spots" located outside of. the <br />Chapel Hill area both north and west where the commercial property is esca- <br />lating; also condominium conversions have caused apartment rents to escalate. <br />The problem with the public service companies will come in 1987 when they again <br />_ have a right to appeal. At that time, the assessment ratio wiJ.1 be in the 55`~ <br />range. Lloyd outlined t~•~o possible solutions: <br />-- (1) to increase the tax rate by one and one half cents to bring in <br />the same amour_t of revenue; <br />(2) advance the scheduled revaluation from 1989 to 1987. <br />Lloyd compared the impact of the 1987 revaluation to the 1989 revaluation. To <br />convert to a total inhause evaluation, the cycle would need to be shortened to <br />either a three or four year cycle. Lloyd favors the three year cycle. <br />In anscrer to Chair T^Tillhoit's question Lloyd stated that all business <br />personal property, all personal property and all utility company property are <br />valued at 100 each year. Eight large apartment complexes sold in the last <br />trio years which has ceveloped a different capitalization rate. Everything <br />ragarf-q hawk rr, a aal a - vnii rannnt rln an annrai G~1 wi thn~~1- ~ sal p_ <br />