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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> Item No. 7-4 <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: October 1, 1996 <br /> SUBJECT: 1997 Revaluation- Schedule of Values <br /> ------------------------------------------------------------------------------------------------------------- <br /> DEPARTMENT : Assessor PUBLIC HEARING: YES NO <br /> --------------------------------------------------- ------------------------------------------------- <br /> ATTACHMENT(S) INFORMATION CONTACT: <br /> John Smith, Jr., ext 2101 <br /> None TELEPHONE NUMBER <br /> Hillsborough 732-8181 <br /> Chapel Hill 968-4501 <br /> Mebane 227-2031 <br /> Durham 688-7331 <br /> ------------------------------------------------------------------------------------------------------------- <br /> PURPOSE: To conduct a public hearing on the schedule of values for the 1997 real <br /> property revaluation. <br /> BACKGROUND: At its last meeting on September 17,the Orange County Board of <br /> Commissioners scheduled a public hearing for October 1 on the schedule of values for the <br /> 1997 revaluation. The schedule of values, standards, and rules will be used to appraise all <br /> real property in Orange County for the January 1, 1997 revaluation, and throughout the <br /> period until a subsequent revaluation(scheduled for January 1, 2001) is conducted. The <br /> schedule of values covers all components of real property that contributes to its value - <br /> both land and improvements to that land. <br /> The North Carolina General Statutes require that the Board of Commissioners conduct a <br /> public hearing on the schedule of values at least 7 days before formal adoption of the <br /> schedule of values. Adoption is scheduled for the October 15, 1996 regular meeting of <br /> the Board of Commissioners. A copy of the schedule of values is available for review in <br /> the County Assessor's office. <br /> RECOMMENDATION(S): The Manager recommends that the Board conduct the public <br /> hearing as scheduled. <br />