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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: June 24, 2008 <br />Action Agend~ <br />Item No. <br />SUBJECT: Establish a Public Hearing Date and Submit the 2009 Schedule of Values <br />DEPARTMENT: Assessor PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />Schedule of Values (To Be Provided INFORMATION CONTACT: <br />Under Separate Cover at the June 24, John Smith, 245-2101 <br />2008 in Preparation for August 19, 2008 <br />Public Hearing) <br />PURPOSE: To schedule a public hearing on and submit the proposed "Schedule of Values" for <br />the 2009 real property revaluation. <br />BACKGROUND: Orange County will conduct its next revaluation of real property to take effect <br />January 1, 2009. The previous revaluation took effect on January 1, 2005. One of the statutory <br />requirements of a revaluation directs the Assessor to submit the proposed schedule, standards, <br />and rules to the board of county commissioners not less than 21 days before the meeting at <br />which they will be considered by the Board (the Assessor will deliver a copy of the Schedule of <br />Values to each Commissioner at the June 24, 2008 meeting.) The Schedule of Values allows <br />the County Assessor and staff to consider all of the various factors which enter into the total <br />market value of a piece of real property -for example, lot size; square footage of living space; <br />number of bedrooms and bathrooms; quality of construction and materials; and physical <br />depreciation, to name just a few. <br />The Assessor recommends that the Board of County Commissioners establish a public hearing <br />on the submitted Schedule of Values for Tuesday, August 19, 2008 at the F. Gordon Battle <br />Courtroom in Hillsborough at 7:30 PM. The Assessor further recommends that the Board plan <br />to consider adoption of the schedule of values at the September 2, 2008 regular meeting of the <br />Board of County Commissioners. Following this schedule would facilitate and support the <br />Assessor's current plan to mail valuation notices to property owners by mid-December. <br />FINANCIAL IMPACT: None <br />RECOMMENDATION: The Manager recommends that the Board establish the public hearing <br />on the Schedule of Values for 7:30 p.m. on August 19, 2008 at the F. Gordon Battle Courtroom <br />in Hillsborough. <br />