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it <br /> 072 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action AMit <br /> Item No. <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: APRIL 21, 1987 <br /> SUBJECT: TAX BASE INFORMATION <br /> DEPARTMENT: PUBLIC HEARING: Yes x No <br /> COMMISSIONERS OFFICE <br /> ATTACHMENT(S) : INFORMATION CONTACT: <br /> SHIRL MARSHALL, <br /> TELEPHONE NUMBER: X505 <br /> Hillsborough - 732-8181 <br /> Chapel Hill - 968-4501 <br /> Mebane - 227-2031 <br /> Durham - 688-7331 <br /> PURPOSE: To establish Board policy with regard to the annual dissemination of tax <br /> base information. <br /> • <br /> BACKGROUND: Other jurisdictions depend on the County Tax Assessor for tax base <br /> valuation estimates for budgeting purposes. This year there was not <br /> a transmittal of this information in written form, but instead was done <br /> on a verbal basis. The Tax Assessor preferred this more informal method <br /> of communication because of the lessened reliability of the estimates <br /> this year due to the revaluation still underway, removal of household <br /> personal property from taxation and the changed deferred use values <br /> for farmland. <br /> It is correct that estimation under such circumstances could lead to <br /> the risk of actual values varying markedly from the initial estimates. <br /> There can be, on the otherhand, a difficulty experienced by the <br /> jurisdiction using the information if it is not treated and communi- <br /> cated to them in a formal manner. <br /> RECOMMENDATION(S) : <br /> Establish the policy that tax base valuation will be annually transmitted <br /> in written form to the other jurisdictions within the County with <br /> stipulation that they are only estimates, subject to refinement until the <br /> date certified by the Tax Assessor as constituting the official levy. <br />