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APPROVED <br /> • Questions from the Work Group <br /> Commissioner and Work Group Co-Chair Phyliss Portie-Ascott opened the meeting to <br /> questions or observations related to previous meeting presentations and facilitated the <br /> discussion. <br /> Questions submitted prior to the meeting from community members, Neal Bench, Catlin <br /> Saunders and Hudson Vaughn were discussed first. Followed by other community <br /> members Hudson Vaughn, Cathy M, John Ferguson and Sheree Alston. <br /> Question/Discussion <br /> Request to provide the range of property value changes by property type (commercial, <br /> residential), including increases and decreases, to understand variations and their impact <br /> on property tax inconsistencies. Nancy Freeman will provide this information to the group. <br /> Impact of Vacancy Rates on Property Valuations: <br /> Orange County uses a contracted commercial appraiser to assess properties, with values <br /> based on market demand. Low vacancy typically drives higher rents and income, leading to <br /> higher valuations (assuming expense ratios and capitalization rates remain constant). <br /> Conversely, overly high pricing can increase vacancy, reducing income and lowering <br /> property values. <br /> Question: Is total property elevation per square foot considered when assessing housing <br /> values? Freeman confirmed it is one factor used in property valuation. Kirk Vaughn <br /> emphasized the importance of analyzing valuation changes over time—not just by property <br /> type, but by comparing assessed values to actual sale prices. <br /> Property Tax Appeal Process Summary <br /> Neal Bench and Nancy Freeman explained the two-step appeal process for property <br /> valuations and the difference between informal and formal appeals. There is no cost, and <br /> neither legal counsel nor an appraisal is required for either level. Further appeal to the NC <br /> Property Tax Commission is available if needed. <br /> County Manager Travis Myren confirmed the proposed timeline in the RFP is 2026 (see <br /> page 8 of the RFP). <br /> Property Appraisal Method <br /> In response to a question about visual appraisal methods, Nancy Freeman explained that <br /> Orange County uses, drive-by field reviews, on-site measurements during construction, <br /> 2 <br />