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1 <br /> Orange County <br /> Board of County Commissioners <br /> Action Agenda <br /> Item No 2_a <br /> Action Agenda Item Abstract <br /> Meeting Date: September 17, 1996 <br /> I <br /> Subject: Establish Public Hearing Date on 1997 Schedule of Values <br /> Department County Assessor Public Hearing Yes No_x_ <br /> Budget Amendment <br /> Needed Yes No_x_ <br /> Attachment(s) None Information Contact <br /> John Smith, ext 2100 <br /> Telephone and Extension Number <br /> Hillsborough 732-8181 <br /> Chapel Hill 968-4501 <br /> Durham 688-7331 <br /> Mebane 227-2031 <br /> Purpose To schedule a public hearing on the "schedule of values" for the 1997 <br /> real property revaluation. <br /> Background Orange County will conduct its next revaluation of real property to take <br /> effect January 1, 1997. The previous revaluation took effect on January 1, 1993. One <br /> of the statutory requirements of a revaluation is that the Board of Commissioners must <br /> conduct a public hearing on the schedule of values at least 7 days prior to their adoption <br /> of the schedule. The schedule of values allows the County Assessor and his staff to <br /> consider all of the various factors which enter into the total market value of a piece of <br /> real property -for example, lot size; square footage of living space; number of bedrooms <br /> and bathrooms; quality of construction and materials; and physical depreciation, to <br /> name just a few. <br /> The Assessor recommends that the Board establish a public hearing on the schedule of <br /> values for Tuesday, October 1, 1996, at the Old County Courthouse in Hillsborough at <br /> 7:30pm. The Assessor further recommends that the Board plan to consider adoption of <br /> the schedule of values at the October 15, 1996 regular meeting of the Board of <br /> Commissioners. Following this schedule would support the Assessor's current plans to <br /> mail valuation notices to property owners between mid-November and early December. <br /> During the next few months, the Assessor and his staff will undertake a public <br /> information effort to promote better understanding among property owners of how the <br /> revaluation and appeals processes work in North Carolina, with details of this effort to <br /> follow. <br />