Orange County NC Website
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32 <br /> 1 Slide #7 <br /> Mandatory Revaluation <br /> In counties with rapid property value changes, state law may <br /> require earlier reappraisals. North Carolina Department of <br /> Revenue (NCDOR) monitors the amount of change in property <br /> values by reviewing the sales ratio between revaluations. <br /> • If sales ratio becomes too high or low, NCDOR mandates the county <br /> to conduct a revaluation sooner. <br /> • Orange County's marked growth in real estate prices since 2021 led <br /> the state to mandate a reappraisal by January 1, 2025. <br /> • Next reappraisal already set for 2025 but could not postpone the <br /> 2025 reappraisal. <br /> ORANGE COUNTY <br /> 7 NORTH CAROLINA <br /> 2 <br /> 3 She said the county's final sales ratio were 64.5% and this is well within the range. <br /> 4 <br /> 5 Slide #8 <br /> Neighborhood Reviews <br /> Approximately 10,000 field reviews to be completed, three times <br /> more than were completed prior to the 2021 Revaluation. <br /> ❖ 2021 Field Review Count affected by COVID restrictions <br /> •:• Includes neighborhoods that have experienced the most appeals since <br /> 2021 <br /> ❖ Ensures no underlying issues that could affect all properties in the <br /> neighborhood <br /> a O NRAN HECOUNTY <br /> CAROLINA <br /> 7 <br /> 8 <br />