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10 <br /> 1 Slide #8 <br /> Neighborhood Review Findings — Tanner <br /> Valuation Group <br /> Additional points identified by Tanner Valuation Group: <br /> • A county-wide calculated Standard Time Adjustments was used in the original statistical <br /> analysis, and TVG recommends that county-wide calculated time adjustments not be <br /> used because different parts of the county experienced growth at different rates. <br /> • Vacant sales should also be excluded from statistical analysis. Orange County <br /> experienced a substantial increase in vacant sales during 2021 and 2022. This could <br /> skew the data as most land sales would be on the lower end of the valuation scale and <br /> those property values may now include improvements resulting in significantly higher <br /> ratios. <br /> • Information related to the interior quality of the properties in identified neighborhoods <br /> was provided by the Coalition and would have otherwise been unavailable to_the Tax <br /> Office. ORANGECOUNTY <br /> OUNTY <br /> 8 NORTH CAROLINA <br /> 2 <br /> 3 <br /> 4 Slide #9 <br /> Neighborhood Review Recommendations — Tanner <br /> Valuation Group <br /> • Analyze all sales to make sure the property data and characteristics <br /> accurately match the property at the time of sale. Make sure to avoid sales <br /> chasing. <br /> • Incorporate the use of Neighborhood Factors further into practice. <br /> • Spend additional time and analysis on upper end properties for the next <br /> revaluation. <br /> • Review base rates, residential in particular is likely low. <br /> • Consider switching from one land line per property to multiple count <br /> GE <br /> for residual acreage. ORNo H CAROOLINA Y <br /> 5 <br /> 6 <br /> 7 <br />