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32 <br /> Slide #12 <br /> I <br /> Review of East 54 Condominiums <br /> On June 8, a formal appeal or a property located at East:54 Condominiums brought forth <br /> the fact that there was a notable difference in fair market values of the condo units in the <br /> ireferenced buildings that face the golf course versus the units that face the parking lot_ <br /> i The Tax Office researched the Issue and found that there was a need to review a total of 92 <br /> properties to determine more equitable valuations for the properties.At the August 12 <br /> Board of Equalization and Review meeting the Board directed the Tax Office to make <br /> .ecessary correcttons to these properties and thelr values to be consistent with the mtlon <br /> taken on the appeal from June S. <br /> 92 properties were reviewed, with 72 properties decreasing in value, 19 inoreasFng in value <br /> and 1 no change. Value notices were mailed eptember 7.The overall change In value for <br /> the affected condominiums was a reduction of 31.936.600. <br /> + As in the case of the NorthsWe Review, the information provided by the property owners <br /> who appealed their values and provided informatlon previously unknown to the Tax Ome <br /> was the key to making the adjustments to more equitably value these properttas, <br /> Commissioner Greene said it seems reasonable to her that the properties facing golf <br /> course are more valuable. <br /> Nancy Freeman said more reduced in value than were raised and that those facing the <br /> parking lot were overvalued. <br /> Slide #13 <br /> 2021 Tax Appeals Results <br /> Real property sales increased steadlly prior to the January 1, 2021 revaluatlon date_ <br /> This resulted iri asubstantial inMcreasein,valuatiorM oovr)ty-wide forthe 2021 <br /> Revaluation. <br /> ! The function of the Revahrafion was complicated throughout by the onset of the COVID <br /> epidemic_Tax Office Staff was able to successfuly review and value a1 propertles and <br /> send notices I n March 2021. <br /> The extenslon of the deadline to appeal provided addltlonal We for property owners to <br /> appeal, due to tM COVID and also rlrre to the Information and subsequent review of <br /> properties in the Northside rraighhorhood conservationdistrlct, <br /> The online appeals module put into production in March 2021 successfully provided an <br /> effechve way for property owners to appeal value without as in-person visit <br /> The frr►al r;umbar of appeals is below the estimated nurnber for 2021.The original <br /> estimate was sat at Grp to 5,000 appeals, based on the nurnber of appeals irF 2009 <br /> Continued outreach to the communities. and the continued involvement of our <br /> taxpayers to provlcle Information about propertles in Orange County A help us to <br /> continue to provirte successful revaluatlons in the future_ <br />