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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: September 5, 2024 <br /> Action Agenda <br /> Item No. 8-f <br /> SUBJECT: Submission of 2025 Reappraisal Proposed Schedules of Rules, Standards and <br /> Values <br /> DEPARTMENT: Tax Administration <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Advertising Notice Nancy Freeman, Tax Administrator, <br /> North Carolina General Statute 105-317 919-245-2735 <br /> UNDER SEPARATE COVER: <br /> 2025 Reappraisal Schedules of Values <br /> ON FILE IN TAX ADMINISTRATION <br /> OFFICE AND CLERK'S OFFICE <br /> AND AVAILABLE <br /> ELECTRONICALLY AT: <br /> https://www.orangecountync.gov/878/Re <br /> valuation <br /> PURPOSE: To: <br /> 1) Receive the proposed 2025 Reappraisal Schedules of Values (SOV); <br /> 2) Review a statutory-compliant timeline of the proposed adoption process; and <br /> 3) Schedule a public hearing on October 1, 2024 concerning adoption. <br /> BACKGROUND: Per North Carolina General Statute (NCGS) 105-317(c)(1), "the [Tax] Assessor <br /> shall submit the proposed schedules, standards, and rules to the board of county commissioners <br /> not less than 21 days before the meeting at which they will be considered by the board. On the <br /> same day that these are submitted to the board for its consideration, the assessor shall file a copy <br /> of the proposed schedules, standard, and rules in his [or her] office where they shall remain <br /> available for public inspection." <br /> In addition, NCGS 105-317(c)(2) states "upon receipt of the proposed schedules, standards, and <br /> rules, the board of commissioners shall publish a statement in a newspaper having general <br /> circulation in the county stating: <br /> a. That the proposed schedules, standards, and rules to be used in appraising real property <br /> in the county have been submitted to the board of county commissioners and are available <br /> for public inspection in the assessor's office; and <br /> b. The time and place of a public hearing on the proposed schedules, standard, and rules <br /> that shall be held by the board of county commissioners at least seven days before <br /> adopting the final schedules, standards, and rules." <br />