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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> Item No. 8— C <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: October 15, 1996 <br /> SUBJECT: Adoption of Schedule of Values for 1997 Revaluation <br /> ------------------------------------------------------------------------------------------------------------- <br /> DEPARTMENT : Assessor PUBLIC HEARING: YES_NO X- <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 consider adoption of the schedule of values, standards, and rules to be <br /> used in appraising real property in Orange County effective January 1, 1997. <br /> BACKGROUND: In accordance with the North Carolina General Statutes,the County <br /> Assessor has submitted the proposed schedule of values, standards, and rules to be used <br /> in appraising real property in Orange County effective January 1, 1997, and throughout <br /> the period until a subsequent revaluation is conducted. Copies of this schedule of values <br /> have been made available for inspection by the public in the Assessor's Office. The <br /> Board conducted the required public hearing on the schedule of values at the October 1, <br /> 1996 regular meeting. <br /> State statutes require that notice of the Board's order approving the schedule of values be <br /> published once a week for four successive weeks with the last publication being not less <br /> than seven days before the last day for challenging the validity of the schedules, <br /> standards, and rules by appeal to the Property Tax Commission. Property owners who <br /> feel that the schedule is invalid have 30 days within which to appeal from the first date of <br /> publication of the notice of the order approving the final schedule of values. If there are <br /> no appeals to the adopted schedule of values,the Assessor will be prepared to send out <br /> 1997 valuation notices to real property owners by early December. <br /> RECOMMENDATION(S): The Manager recommends that the Board approve the final <br /> schedule of values, standards and rules, and direct the Assessor to observe all statutory <br /> requirements related to public notice about the schedule of values. <br />