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PhaselIV. Final Review is a field review of final appraised <br /> values where appraisers review all the entries and values on each <br /> property record card while looking at the particular property <br /> which the card represents. This phase is expected to run one to <br /> three weeks behind phase III. All cards should be returned and <br /> data entry of changes completed by the end of September. <br /> Finally, there will be a thorough examination of the residen-. <br /> tial/agricultural sales analysis, adjustments made, and in November <br /> the "Notices of change of value" will be mailed. Informal hearings <br /> will be set up at this time and should run between November and March. <br /> Commercial/Industrial notices are slated for mailing in late December. <br /> Thanks to an active Orange County real estate market an ever <br /> growing sales file of 3000 plus sales of Residential/Agricultural <br /> (Vacant and Improved) and Commercial/Industrial (Vacant & Improved) <br /> current market value sales have been compiled. Analysis of the sales <br /> file indicates minor increases in land values and an average 30% ;increase <br /> in building costs for the majority of the county excluding Hillsborough <br /> and Chapel Hill Townships. Areas where land values have increased <br /> in Little River, Cedar Grove, Cheeks, Eno, and Bingham are usually <br /> well defined, compact areas where real estate is moving with verifiable <br /> and documented value. As previously indicated the last two townships <br /> have not yet been thoroughly analized, however it is expected that <br /> high density and commercially developed areas will show major increases. <br />