Minutes 05-15-2012 - Laserfiche WebLink

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Page 25 — let's take the area in northern Orange #222. Twenty-one properties sold from January 1, 2011 to December 31, 2011. Sixteen sold for less than tax value of$46,190 less than tax value. Five sold for more than tax value at an average of$111,572. All of these averages are from 15% to 30% off of tax value. They need to be corrected, as many people are paying more than they should." Commissioner Yuhasz asked Jenks Crayton if he saw any systemic inequities. Jenks Crayton said that there are some geographical areas that do need correction. Through a local appraiser, they have been alerted to one of these neighborhoods. This area was appraised at too high a value in 2009. This is being remedied through the Board of Equalization and Review. Commissioner Yuhasz asked if it were possible that there were areas that were priced too high or too low and if the County could look at those outside of a general revaluation. Jenks Crayton said that he has not noticed this in particular, but he would be willing to look at that if someone pointed it out. Commissioner Yuhasz asked what a citizen would do if they felt that their property was improperly valued. Jenks Crayton said that they could email or call him. The best time to rectify a problem is at the informal stage. Commissioner Hemminger said that the last time the County did a revaluation, the County remained revenue neutral, but about a third of the property owners ended up paying more in taxes, about a third ended up about the same, and about a third paid a little less. She said that this time if the values go down, the County will have to increase the tax rate to stay revenue neutral for the County. This will yield the same result for citizens, except the motor vehicle taxes will go up. She said that putting this off would mean that there would be more data and a tax increase would be delayed. Commissioner McKee said that revenue neutral does not equal tax neutral. Commissioner Gordon said that her concern is with the equity. The reason to revalue is to be fair. She asked if the issue was that there was not enough data to do a reliable revaluation and Jenks Crayton said yes. Commissioner Jacobs said that a year ago the Manager recommended not doing a revaluation and the Board of County Commissioners decided to go ahead with the revaluation in order to stay on the same schedule. He said that the data has taken him aback. He said that it has been made clear to him that they need to delay the revaluation because the data does not support moving forward with one. Commissioner McKee said that the County should remain on a four-year cycle. Chair Pelissier echoed Commissioner Jacobs' comments. She said that the revaluation is not really about what the tax rate is, but it is really making sure that people are taxed equitably relative to one another. The equity is a very important issue. A motion was made by Commissioner Hemminger, seconded by Commissioner Jacobs to approve the resolution establishing the year 2015 for the next general reappraisal of real property in Orange County. Commissioner McKee said that there will be a perception that while property values are going up, Orange County is ready to go forward with a revaluation, but when property values are decreasing, Orange County is not willing to go forward with this same procedure. Commissioner Yuhasz said that he was in favor of doing the revaluation a year ago, but now it is about equity. He is in favor of delaying it to 2015.