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32 <br /> 1 Slide #12 <br /> I <br /> Review of Exist 54 Condominiums <br /> ori __,ie 8, a formal appeal ora property located at East 54 Condominiunrsbroughtforth <br /> the fact that there was a notable difference in fair market values of the condo units in the <br /> l referenced buildings that face the golr course versus the units that fake the parking lot_ <br /> The Tax Office researched the issue and round that there was a need to review a Natal of S2 <br /> properties to determine more equitable valuations for the properties,At the August 12 <br /> Board of Equalization and Review meriting the Board directed the Tax Office to make <br /> necessary corrections to these properties and their values to be consistent with the action <br /> taken on the appeal from June 8 <br /> 92 properties were reviewed, with 72 properties decreasing in value, 19 increasing in value <br /> and 1 no change. Value notices were mailed September 7.Theoverall change in value for <br /> the affected condominiums was a reduction of$1.936.600 <br /> As in the case of the NurthsWe Review, the information provided by the property owners <br /> who appealed their values and provided information previously unknown to the Tax Office <br /> was the key to making the adjustments to more equitably value these properties. <br /> 2 <br /> 3 Commissioner Greene said it seems reasonable to her that the properties facing golf <br /> 4 course are more valuable. <br /> 5 Nancy Freeman said more reduced in value than were raised and that those facing the <br /> 6 parking lot were overvalued. <br /> 7 <br /> 8 Slide #13 <br /> 0'21 Tax. Appeals [results <br /> f Real property sales increased steadily prior to the January 1, 2021 revaluation date_ <br /> This resulted in a substantial increase in valuation county-wide for the 2021 <br /> Revaluation <br /> The funs ton of the Revalual;ion was complicated throughout by the onset cfthe COVID <br /> epidernie_Tax OrficeStaffwas able to successhAV review and value all pmpertles am <br /> send notices in March 2f121. <br /> The extension of the deadline to appeal provided a6dibonal tirrre for property owners to <br /> appeal, due to the COVID and,also flue to the Information and subsequent review of <br /> {' propertias in the Northside neighborhood cQnservalion district. <br /> The online appeals module put into production in march 2021 successfully provided an <br /> effective way for property owners to appeal value without an in-person visit <br /> The final number of appeals is below the estimated number,for2021.The original <br /> estimate was set ail up to 5.000 appeals,bLased on the number of eppeels in 2009 <br /> Continued outreach to the communities and the continued invdvamefrt of cur <br /> taxpayers to provide Information about properties in Orange County will help us to <br /> continue to provide successful revalLialions in the future. <br /> 9 <br /> 10 <br />