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11 <br />fiscal near which be ins July 1 2011 all real and personal property in areas affected by the <br />resurvey of the boundary line which was subject to ad valorem taxation in that area on January <br />1, 2012, shall be assessed and taxed as follows: <br />(~ The ad valorem property taxes assessed on all classified registered motor <br /> vehicles registered or listed in adjoining counties between January 1, 2011, <br /> and March 1 2012 shall be collected b t~ppropriate adjoinin county <br /> tax collector and all such taxes shall be retained by that adjoining county. <br /> The taxes on all classified registered motor vehicles registered after March 1, <br /> 2012, shall be assessed and collected b~ the county tax department in the <br /> county to which the real property wherein the classified registered motor <br /> vehicles are situated has been reassigned. <br />(2 The values established by the particular ad'ot inin cg_ounty tax administrator <br /> on all personal property other than classified registered motor vehicles shall <br />- --- - - - - be used-by each county-tax-assessor-without-adjustment-in-computing taxes- <br /> due for the fiscal near be inning July 1, 2012. All such taxes shall be <br /> - assessed and collected by the appropriate county tax department. <br />(~ For the interim time period between the reassignment of properties into their <br /> respective counties and until such time as the next re ug larly scheduled <br /> revaluation~eriod Alamance County and Orange Coun may select either <br /> of two methods of valuating the grope reassigned into their respective <br /> counties by this act. The selection of either method by a county shall not <br /> ive any individual or entity grounds for challen ins such temporary <br /> valuation. Such methods are delineated as follows: <br /> a. The values established by the adjoining county tax administrators on <br /> all real property formerly taxed in their county shall be adjusted by <br /> the appropriate county tax assessor by apple the difference <br /> between one hundred percent (100%) of such values and the <br /> appropriate county median ratio as established by the Sales <br /> Assessment Ratio Study compiled by the North Carolina Department <br /> of Revenue as of January 1 2009. The taxes determined b~pplyin~ <br /> this method will be collected and retained by the appropriate county <br /> tax collector The value of such property shall then be revalued <br /> according_ to the regularly scheduled revaluation period for each <br /> coup <br /> b. The values established by the adjoinin cg_ounty tax administrators on <br /> all real property formerly taxed in their county shall be adopted by <br /> the appropriate county tax assessor upon the transition of property to <br /> the adioining_county. The valuation of such property shall then be <br /> revalued according to the regularly scheduled revaluation period for <br /> each county. <br />(~ Be~innin Jg anuary 1 2013 all property in areas affected by the resurvey of <br /> the boundaryline which is subject to ad valorem taxation, shall be listed, <br /> assessed and taxed by the appropriate county tax administrator in the same <br /> manner as is prescribed by law for all other property located within each <br /> Coun . <br />(~ The final tax values of property subject to ad valorem taxation in areas <br /> affected by the resurvey of the boundary line as of January 1 2013 shall be <br />- determined by the adjoining county tax administrator. Appeals to the North <br /> Tax Commission or to the courts by property owners of <br />Carolina Property <br /> _ <br />properties affected by the boundary line change shall be defended by both <br />Page 4 Session Law 2011-88 Senate Bill 201* <br />