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Agenda 10-03-23; 7-a - 2025 Countywide Property Tax Revaluation Update
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Agenda 10-03-23; 7-a - 2025 Countywide Property Tax Revaluation Update
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9/28/2023 1:04:07 PM
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BOCC
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10/3/2023
Meeting Type
Business
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Agenda
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7-a
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Agenda for October 3, 2023 BOCC Meeting
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7 <br /> NCDOR Reappraisal Standards (continued) <br /> Type of Reappraisal <br /> Based on Review of Random Sample using I% of Improved Properties <br /> For Counties on a four-year cycle,a Data Review conducted by NCDOR is required three years prior to <br /> the planned Revaluation <br /> Orange County's Random Sample Review was completed in September 2022, Results: <br /> Square Footage Data:NCDOR Standard —95%,Orange County—95.41 <br /> Objective Data:NCDOR Standard —95%,Orange County—98.71 <br /> Subjective Data:NCDOR Standard —90%,Orange County—93.89% <br /> Recommendation made by NCDOR :Minimum Desktop Reappraisal <br /> Required Reappraisal Plan <br /> Orange County submitted plan to NCDOR in January 2023 <br /> Plan includes: Budget,Staffing levels,Outsourcing Needs,and Timeline <br />
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