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6 <br /> 1 Tanner Valuation Group provided a Summary Report for the Orange County 2025 Reappraisal <br /> 2 Findings and Recommendations which is included as Attachment 3. <br /> 3 <br /> 4 Appeal Status <br /> 5 The Tax Office received 3,380 informal appeals during the informal appeal window from March <br /> 6 21 through April 30, 2025. Of those informal appeals, 2,148 resulted in adjustments to the value <br /> 7 of the property, or 64% of the appeals. Total value reduction was $201,005,498 which is an <br /> 8 average reduction of$93,578. All informal decision notices were mailed as of November 26, 2025. <br /> 9 <br /> 10 The formal appeal period was April 1 through July 31, 2025. There were a total of 1,038 formal <br /> 11 appeals, and 686 resulted in adjustments to the value of the property, or 66% of the appeals. The <br /> 12 total value reduction was $158,887,883, resulting in an average reduction of$231,615. <br /> 13 <br /> 14 The Fiscal Year 2025-2026 budget assumed a tax base reduction of 3%, or $936,162,977, <br /> 15 resulting from the appeal process. The total value reduction from appeals was$359,893,381. The <br /> 16 overall value reduction including appeals and neighborhood reviews is $458,651,081, which is a <br /> 17 reduction of 1.47%. <br /> 18 <br /> 19 As of February 25, 2026, there have been thirty-four (34) appeals to the North Carolina Property <br /> 20 Tax Commission (PTC) with a total of 94 properties. To compare to previous revaluation years: <br /> 21 ➢ 2009 — 120 PTC appeals <br /> 22 ➢ 2017 —22 PTC appeals <br /> 23 ➢ 2021 — 12 PTC appeals <br /> 24 <br /> 25 The last of the formal appeal decision notices were mailed on February 20, 2026. There is a 30- <br /> 26 day window for the property owner to appeal to the PTC from the date the final decision notices <br /> 27 were mailed, which means that the number of 2025 PTC appeals could increase. <br /> 28 <br /> 29 Nancy Freeman, Tax Administrator, made the following presentation: <br /> 30 <br /> 31 Slide #1 <br /> f <br /> ORANGE COUNTY <br /> NC3RTH CAROLINA <br /> Tax Office Neighborhood Review <br /> Report and Appeal Results <br /> Board of Commissioners <br /> Business Meeting <br /> March 5, 2026 <br /> 32 <br />