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14 <br /> 1 General Information <br /> 2 • All 2017 revaluation appeals have been resolved. <br /> 3 • Currently accepting and working with taxpayers on appeals for the 2019 tax year. <br /> 4 • Have begun working on the revaluation to take effect January 1, 2021. <br /> 5 <br /> 6 New NCDOR Standards <br /> 7 NCDOR issued new procedural standards for all 100 counties. <br /> 8 o 1% random sample of improved properties due September 1, 2018 <br /> 9 ■ Square Footage Data: NCDOR Standard — 95%, Orange County— <br /> 10 98.21% <br /> 11 ■ Objective Data: NCDOR Standard — 95%, Orange County— 98.30% <br /> 12 ■ Subjective Data: NCDOR Standard — 90%, Orange County— 97.11% <br /> 13 o Reappraisal plan due January 1, 2019 <br /> 14 ■ Budget <br /> 15 ■ Staffing levels <br /> 16 ■ Outsourcing needs <br /> 17 ■ Timeline <br /> 18 <br /> 19 2021 Revaluation Timeline <br /> 20 • January 2019 — December 2019: Initial property visits <br /> 21 • January 2019 — December 2020: Sales analysis <br /> 22 • January 2019 — September 2019: Land pricing <br /> 23 • January 2019 — December 2020: Data entry <br /> 24 • January 2019 — December 2020: Testing <br /> 25 • May 2020 —August 2020: Building of Schedule of Values <br /> 26 • September 2020 — November 2020: Adoption of Schedules <br /> 27 • December 2020 — February 2021: Notices of Value <br /> 28 • January 2021 — June 2021: Appeals <br /> 29 <br /> 30 2018 Market Sales Statistics — NCDOR Annual Report <br /> 31 • Number of qualified market sales: 421 <br /> 32 • Sales ratio measurement <br /> 33 o Median = .91 <br /> 34 o Mean = .932 <br /> 35 o COD = 12.99 <br /> 36 o PRD = 1.014 <br /> 37 o Range = 1.604 <br /> 38 <br /> 39 Commissioner Dorosin asked if there is a process for determining which random sales <br /> 40 to choose. <br /> 41 Dwane Brinson said staff submits the last book and page to the Department of Revenue <br /> 42 each year. He said the Department of Revenue gives staff a sample of sales to analyze, and if <br /> 43 a sale does not qualify (related party sale, corporation sale, etc.), staff skips it and goes on to <br /> 44 the next market sale. <br /> 45 <br /> 46 Community Initiatives <br /> 47 <br /> 48 2021 Revaluation Community Initiatives <br /> 49 • PUBLIC COMPER <br />