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27 <br /> Slide #2 <br /> 2021 Value Appeals Process <br /> I <br /> 2021 was a Revaluation Year for Orange County Tax Ol'tice <br /> f Real Properties are valued based on January 1 current market value <br /> Revaluation Notices of New Values mailed March 24,2021 <br /> Appeals period began March 24 and ended September 1. 202 <br /> Inrormal Appeals period began March 24 and ended May 2 <br /> Formal Appeals period began May 3, with the Board of Equalization and Review <br /> (BOER)convening and ended September 1 with the DOER adjourning <br /> Slide #3 <br /> Appeals Overview <br /> • There were a lotal of 2097 appeaw 1662 Informal,413 Formal <br /> ■ overall,the appeals rendered a reduction of 17 to the values of the appealed properties. <br /> • The reduollon represents apprax nately 1.5%of the CowV Tax Base_ <br /> ■ The appeal process begins with an appella-t submitting an appeal,often using the appeal form <br /> provided by the Tax Office,in wtktn the appellant is encouraged to provide an opinion of value <br /> ane relevant oformadon to supporl their opinion. The appeal Is Ihen assigned to an appraiser <br /> who revlews the appellants evndenee, the propsny characlerlstlos on recore,mid reievanl market <br /> data relating to the properly. Based on their fin*Qs. the appraiser may correct inaxcurmies in <br /> the property record and adqust the value of the property aceord gly through application of the <br /> approved Schedule of Values. Any resuiag charge in value may coincide with the appellant's <br /> oparon of value or be less or greater Than the appellanl's oparan_ <br /> Nancy Freeman said that the 1.5% reduction aligns with the County's estimate. <br />