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<br />and have allowed the appraisers to begin full field visits once again. In early March we mailed Data Validation <br />Forms to all real property owners in Orange County. Currently we are entering data based on the information <br />provided by property owners, and these field visits will allow us to verify information. <br /> <br />In 2017 reappraisal standards were created and approved by the N.C. Department of Revenue with a goal of <br />being able to ensure more equitable and accurate reappraisals state-wide. As part of the new standards we <br />are required to create an Appraisal Manual, which includes information on appraisal and data collections <br />procedures. The manual has been completed. <br /> <br />Our Schedule of Values is almost completed and is scheduled to be finalized by September. The Public Hearing <br />for the Schedule of Values will be in September, and should be adopted at the October 15th meeting of the <br />Board of County Commissioners. <br /> <br />Our final review of all property values will be completed in December or January in order to accurately include <br />the effects of the Covid-19 Crisis. And following, the revaluation notices are scheduled to be mailed in <br />February 2021. Informal appeals will begin and conclude at the end of March 2021. Board of Equalization and <br />Review hearings will take place from April 2021 to June 2021. <br /> <br />Conclusion <br />Market statistics show Orange County’s values have been steadily rising, which is evident by our declining <br />sales ratio. However, we are seeing a lower number of sales than in previous years. In addition, we are just <br />beginning to receive sales data that reflect the impact of the Covid-19 Crisis on the values for the 2021 <br />revaluation, and we do not yet know if they will continue, or if the economy will recover without lasting <br />damage. Regardless of whether the current crisis only has a temporary impact on the values, or if it results are <br />more permanent, we do expect this unprecedented event to increase the number of value appeals for the <br />2021 revaluation. <br /> <br /> <br />3