Orange County NC Website
5 <br /> • Sales bank/appeals process on website <br /> • Revaluation presentations <br /> Where We Are <br /> • Mostly complete with land pricing <br /> • Mostly complete with verifying individual property characteristics and data <br /> • Currently performing "Neighborhood Reviews" <br /> o Current sales reports for statistics, edits as necessary <br /> o Before and after report for quality control <br /> • Commercial properties are being appraised by outside commercial appraisal company <br /> Where We Are Going <br /> • Schedules of Values submission September 6, 2016 and corresponding adoption <br /> timeline <br /> • Final revaluation presentations January 2017 <br /> o Challenges of the revaluation <br /> o Tentative results at a high level by classification, district, and other categories as <br /> requested <br /> • Notices of new value mailed late-February 2017 <br /> • Deadline for informal appeals April 28, 2017 <br /> • Board of Equalization and Review to convene May 1, 2017 <br /> • Post-revaluation customer service, reporting <br /> o Extended informal appeals process <br /> o Collaborative approach to appeals <br /> o Pooled resources with other county departments <br /> The Schedules of Values (SOV) <br /> • Tax Assessor must submit SOV to the Board of County Commissioners (BOCC) <br /> • "Upon receipt", the BOCC shall publish a statement that such has been submitted and <br /> time/place of public hearing on SOV <br /> • 52-day minimum for full adoption of SOV <br /> What is the Schedules of Values? <br /> • 4-year business plan <br /> • An appraisal "toolbox" <br /> • Explains methodology <br /> • Shows appraisal system contents, i.e. calculation tables, codes, etc. <br /> • Links to applicable case law <br /> • Provides Uniform Standards of Professional Appraisal Practice (USPAP) <br /> • Does not provide values for specific properties <br /> The Adoption Process <br /> • September 6, 2016: Submission of Schedules of Values to Board of County <br /> Commissioners <br /> • September 7, 2016: Advertising notice published in News of Orange, Chapel Hill News <br /> & Durham Herald <br /> • September 20, 2016: Public hearing <br /> • October 4, 2016: Adoption of Schedules <br />