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~. <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: September 4, 2001 <br />Action Agenda <br />Item No. <br />SUBJECT: Pro ert Value Chan es <br />DEPARTMENT: Assessor's-Office <br />PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): - INFORMATION CONTACT: <br />John Smith, ext. 2101 <br />.Resolution <br />Spreadsheet TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968-~L501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To consider approving value changes made in property values after the 2001 <br />Board of Equalization and Review has adjourned. <br />BACKGROUND: North Carolina General Statute 105-325(a) provides in part that "After the <br />board of equalization and review has finished its wank and the changes it affected or ordered <br />have been entered on the abstracts and tax records as required by G.S. 105-323, the board of <br />county commissioners shall have the authority to make changes an the abstract and tax <br />retards." This section further enumerates the circumstances under which a board of <br />commissioners can make valuation changes. <br />The Orange County Board of Equalization and Review adjourned on July 26, 2001. Since that <br />time, staff have identified a number of changes to the values of specific properties which can <br />and should be made, in accordance with the statutory provisions. <br />FINANCIAL IMPACT: Approval of these changes will increase assessed value by $ 89,148 for <br />2001. This will result in a net increase in revenue of $ $672.11 to the County, municipalities, <br />and special districts. <br />RECOMMENDATION: The County Manager recommends that the Board adopt the resolution <br />approving the attached value changes. <br />