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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: October 6, 2020 <br /> Action Agenda <br /> Item No. 5-a <br /> SUBJECT: Public Hearing on the 2021 Reappraisal Proposed Schedules of Rules, <br /> Standards and Values <br /> DEPARTMENT: Tax Administration <br /> ATTACHMENT(S): <br /> Presentation: 2021 Reappraisal Schedules <br /> of Values <br /> UNDER SEPARATE COVER: <br /> 2021 Reappraisal Schedules of Values INFORMATION CONTACT: <br /> ON FILE IN TAXADMINIS TRA TION Nancy T. Freeman, Tax Administrator <br /> OFFICE AND CLERK'S OFFICE 919-245-2735 <br /> AND AVAILABLE <br /> ELECTRONICALLY AT: <br /> https://www.orangecountync.gov/878/Rev <br /> aluation <br /> PURPOSE: To conduct a public hearing scheduled for this meeting on the 2021 Reappraisal <br /> Proposed Schedules of Rules, Standards and Values. <br /> BACKGROUND: As required by North Carolina General Statutes (NCGS) 105-317, the proposed <br /> Schedules of Values (SOV) to be used in conducting the 2021 reappraisal were submitted to the <br /> Board of County Commissioners on September 15, 2020. At that time, a public hearing was set <br /> for October 6, 2020, and notice was advertised in the News of Orange, Chapel Hill News and <br /> Durham Herald on September 16, 2020. The proposed Schedules have been available for public <br /> inspection in the Orange County Tax Office, Orange County Clerk to the Board's Office, and on <br /> the Orange County Tax Office website (available at <br /> https://www.orangecountync.gov/878/Revaluation) since September 15, 2020. <br /> The public hearing is the second step in a three- step process to adopt the Schedules that will be <br /> used in conducting the 2021 reappraisal. The Board will be asked to adopt the Schedules at its <br /> November 5, 2020 regular meeting. Following adoption, the Schedules will be appealable to the <br /> State Property Tax Commission for thirty (30) days. <br /> The timeline for the 2021 Reappraisal Schedule of Values adoption process is as follows: <br /> • September 15, 2020: Submission to Orange County Board of Commissioners <br /> • September 16, 2020: Advertise in newspapers <br /> • October 6, 2020: Public hearing on SOV <br /> • November 5, 2020: Adoption of SOV <br />