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10 <br /> 1 In January 2016, the tax office proactively sent each real property owner a snapshot of the <br /> 2 property's public record and a request to review the information for discrepancies, and return it <br /> 3 to the Tax Office with any discrepancies noted. This allowed for appraisal staff to verify and <br /> 4 ensure the records were accurate in preparation for the revaluation. <br /> 5 <br /> 6 Prior to the 2017 revaluation, Orange County had only two defined neighborhoods set up in the <br /> 7 appraisal database. A neighborhood is basically defined as a group of similar properties. A <br /> 8 common example of a neighborhood would be a subdivision. As part of the process, staff <br /> 9 defined more neighborhoods, thereby allowing better organization and pricing models for the <br /> 10 current and future revaluations. The County database now has 975 identified neighborhoods. <br /> 11 <br /> 12 A significant by-product of the revaluation is the improvement of the building use information in <br /> 13 the tax database. In the past, requests for information such as the percentage of residential <br /> 14 versus commercial in the tax base required Information Technologies programming and <br /> 15 assistance. Throughout the 2017 revaluation, staff proactively invested the time to identify and <br /> 16 code each of the 55,500 parcels with its corresponding building use such as single-family <br /> 17 residential, restaurant, or student housing. Reporting for 2017 and forward will be much easier <br /> 18 and more accurate because of these efforts. <br /> 19 <br /> 20 The effective appraisal date for the 2017 revaluation is January 1, 2017. Notices are on <br /> 21 schedule to be mailed the last week of February. Informal appeals will begin immediately after <br /> 22 taxpayers begin receiving notices of value. The Board of Equalization and Review will convene <br /> 23 May 1st and begin hearing formal appeals. <br /> 24 <br /> 25 2017 Revaluation Results <br /> 26 February 2017 <br /> 27 <br /> 28 What is a Revaluation? <br /> 29 0 Process of updating real property tax assessments for market value and present-use <br /> 30 value as of a single appraisal date <br /> 31 0 Primary goal is to equalize tax base <br /> 32 0 Effective appraisal date for Orange County's revaluation is January 1, 2017 <br /> 33 <br /> 34 What is Included in a Revaluation <br /> 35 0 All residential and commercial land through Orange County, including exempt property, <br /> 36 and permanent structures on the land. <br /> 37 0 What is not included? <br /> 38 • Business personal property <br /> 39 • Motor vehicles, boats, airplanes <br /> 40 • Public utility property <br /> 41 <br /> 42 Commercial Appraisals <br /> 43 0 Local commercial real estate appraisal firm provided market research, sales <br /> 44 0 A different commercial appraisal firm interpreted this market research and provided <br /> 45 recommended values for all commercial parcels <br /> 46 0 Orange County senior appraisal staff reviewed recommended values <br /> 47 <br /> 48 Real Property Change by Area (graph) <br /> 49 <br /> 50 Commercial Change by Classification (graph) <br /> 51 <br />