RES-2012-035 Resolution Requesting Orange County’s Proposed 2012 Legislative Agenda Orange Alamance County Line

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1 on January 1, 2013, shall be subject to ad valorem taxes in the county to which the property is 2 reassigned for the fiscal year beginning July 1, 2013, to the same extent as it would have been 3 had it been correctly recognized by the tax departments of each county on March 1, 2013, 4 except as hereinafter provided with respect to classified registered motor vehicles. On 5 September 1, 2012, the adjoining County Tax Administrators shall commence the transfer to 6 the respective County Tax Assessors the ad valorem tax listings and valuations for all real and 7 personal property subject to ad valorem taxation in areas affected by the resurvey of the 8 boundary line except classified motor vehicles which were registered in the adjoining counties 9 prior to July 1, 2012. For the fiscal year which begins July 1, 2012, all real and personal 10 property in areas affected by the resurvey of the boundary line, which was subject to ad 11 valorem taxation in that area on January 1,2013;shall be assessed and taxed as follows: 12 (1) The ad valorem property taxes assessed on all classified registered motor 13 vehicles registered or listed in adjoining counties between January 1, 2012, 14 and March 1, 2013, shall be collected by the appropriate adjoining county 15 tax collector and all such taxes shall be retained by that adjoining county. 16 The taxes on all classified registered motor vehicles registered after March 1, 17 2013,. shall be assessed and collected by the County-Tax Department in the 18 county to which the real property wherein the classified registered motor 19 vehicles are situated has been reassigned. 20 (2) The values established by the particular adjoining County Tax Administrator 21 on all personal property other than classified registered motor vehicles shall 22 be used by the each County Tax Assessor without adjustment in computing 23 taxes due for the fiscal year beginning July 1, 2013. All such taxes shall be 24 assessed and collected by the appropriate County Tax Department. 25 (3) For the interim time period between the reassignment of properties into their 26 respective counties and until such time as the next regularly scheduled 27 revaluation period, Alamance County and Orange County may select either 28 of two methods of valuating the property reassigned into their respective 29 counties by this act. The selection of either method by a County shall not 30 give any individual or entity grounds for challenging such temporary 31 valuation. Such methods are delineated as follows: 32 a. The values established by the adjoining County Tax Administrators 33 on all real property formerly taxed in their county shall be adjusted 34 by the appropriate County Tax Assessor by applying the difference 35 between one hundred percent (100%) of such values and the 36 appropriate County median ratio, as established by the Sales 37 Assessment Ratio Study compiled by the North Carolina Department 38 of Revenue as of January 1, 2009. The taxes determined by applying 39- this method will be collected and retained by the appropriate County 40 Tax Collector. The value of such property shall then be revalued 41 according to the regularly scheduled revaluation period for each 42 County. 43 b. The values established by the adjoining County Tax Administrators 44 on all real property formerly taxed in their county shall be adopted by 45 the appropriate County Tax Assessor upon the transition of property 46 to the adjoining County. The valuation of such property shall then be 47 revalued according to the regularly scheduled revaluation period for 48 each County. 49 (4) Beginning January 1, 2014, all property in areas affected by the resurvey of 50 the boundary line, which is subject to ad valorem taxation shall be listed, 51 assessed, and taxed by the appropriate County Tax Administrator in the 2