Orange County NC Website
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5 <br /> Timeline <br /> April 2014 -January 2016: Field visits to verify property record cards <br /> January 2016: Mail summary description of properties with listing forms <br /> January 2016 -April 2016: Initial field review of sales used in models <br /> February 2016 - May 2016: Review grade, depreciation, etc. field reviews <br /> April 2016 -July 2016: Development of new rates for Schedule of Values (SOV) and testing <br /> July/August 2016: Finalize SOV <br /> September 2016: Public hearing on SOV <br /> October/November 2016: Adoption of SOV <br /> December 2016: Final, holistic review <br /> December/January 2017: Send out value change notices <br /> January 2017 - March 2017: Informal appeals <br /> April 2017 -June 2017: Board of Equalization and Review hearings <br /> The Process <br /> • Appraisers visiting properties, talking with residents <br /> • Land being valued as if vacant <br /> • Models being tested in the office <br /> • Revaluation presentations in the community <br /> Data Anomalies <br /> • Field reviews/Data Correction Forms <br /> ➢ Property characteristic data changes for current year and future years <br /> ➢ Examples of exceptions: new home constructed that is not on tax records <br /> (discovery), house fire resulting in total loss that is still being taxed (refund) <br /> Current Tax Assessments <br /> • Last appraisal date was January 1, 2009 <br /> ➢ Adopted schedule of values for 2009 revaluation <br /> ➢ Current tax assessments reflect value as of that date <br /> • Based on sales from 2007 and 2008 <br /> • Per NCGS 105 —287, cannot change 2009 tax assessments until date of next <br /> revaluation, January 1, 2017 <br /> • Current sales ratio is .993, 1.007 in 2014 and 1.04 in 2013 <br /> Appeals <br /> • Taxpayers may appeal their assessment every year <br /> • Stage 1 - tax office review in-house with an appraiser <br /> • Stage 2 — hearing with Orange County Board of Equalization and Review (third party <br /> members) <br /> • Stage 3 — North Carolina Property Tax Commission <br /> • Stage 4 —Appeal courts <br /> Community Outreach <br /> • 2017 Revaluation Partner Program <br /> ➢ Review of information on website <br />