Minutes 05-15-2012 - Laserfiche WebLink

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level of last year. Also, none of Orange County's neighbors are planning to do a revaluation before 2015, which is the Manager's recommendation. Chair Pelissier made reference to the packet of information from Joe Phelps. PUBLIC COMMENT: Joe Phelps said that he has been in real estate for 25 years and is a broker/owner of Phelps Realty. He had requested previously to make a presentation to the Board of County Commissioners about why the County needs to stay on schedule for the tax revaluation, but it was denied. He said that he did meet with the Tax Administrator and it was a good conversation, but he did not agree with him about everything, especially the COD. He referred to several discrepancies that he thought existed in Mr. Crayton's presentation. He went through his handout: "In the packet tonight on this subject there are some statements I think are very misleading. Orange County is not like many other counties in North Carolina. We don't have the high unemployment others have and we have many high paying jobs in the Triangle, so to compare Orange County to other not doing revaluation I think is misleading. The big thing is the numbers stating there will be a shortfall in everyone's budget. After revaluation you have to adjust tax rates to be revenue neutral so there will be no shortfalls. Now some people's taxes will go up, but many people's taxes will go down. If anyone wants the info I am presenting tonight, I will give out my email and send you the info. My info comes from the Multiple Listing Service and even though this information is public, I will hide the addresses, but have a hard copy if needed for verification if questioned. Page 1 is a map dividing the county into areas. Page 2 —the Assessor says he doesn't have enough data. Let's use the following data: if you take out the areas around Chapel Hill numbered 201, 202, 203, 204, and 228 and look for closed sales of single family dwellings, single wides, and doublewides and priced from $1 to unlimited dollars. From January 1, 2007 to December 31, 2007 you have 773 sales, compared four years later using same data same timeframe you have 587 sales, not that many less. From January 1, 2008 to May 14, 2008 you have 166 sales. Four years later same data same timeframe you have 181 sales, even more than the prior years the revaluation was done. Page 3 — a map of roughly the area you were told that there wasn't enough data in northern Orange. Page 4 and 5 sales from January 1, 2007 to December 31, 2007, there were 36 sales, page 5 and 6. Again, same search criteria from January 1, 2011 to December 31, 2011 there were 36 sales. The same amount. Page 7 sales from January 1, 2008 to May 14, 2008 there were 13 sales, page 8, again same search criteria from January 1, 2012 to May 14, 2012 there were 11 sales. Almost the same. Quickly onto tax value versus sales price in Orange County for single family dwelling, singlewides and doublewides. There were 892 sales. Each column is labeled to what it stands for. Let's take page 9, which is around Chapel Hill. That's the first page printed off. Forty-six properties closed. Thirty-four sold for less than tax value at an average of$51,205 less than tax value. Twelve sold for more than tax value at an average of$35,550 more than tax value.