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8 <br /> Slide #4 <br /> The Need for Neighborhood Review <br /> • After the 2025 Revaluation notices were mailed, questions arose about the vertical equity in <br /> Orange County's Revaluation. <br /> • Many concerns were raised by Orange County Property Tax Justice Coalition (OCPTJC). <br /> Tax Office used vendor services for an analysis county-wide using multiple metrics, with a <br /> conclusion that Orange County was largely within statistical norms. <br /> • Tax Office also conducted a neighborhood level analysis internally and 172 neighborhoods were <br /> identified for further review. <br /> • After dialogue with Habitat for Humanity staff and research, it was noted that some Habitat For <br /> Humanity homes needed further review. <br /> • Tax Office asked the Board of Equalization and Review (BOER)to direct staff to review the <br /> neighborhoods and Habitat properties and make changes as needed. <br /> • Tanner Valuation Group (TVG)was hired to review the neighborhoods. ORANGE COUNTY <br /> 4 NORTH CAROLINA <br /> Slide #5 <br /> Neighborhood Review Results <br /> • 172 neighborhoods were reviewed and 57 neighborhoods saw some sort of <br /> adjustment. <br /> • Tax Office reviewed the neighborhoods that make up the Northside <br /> Neighborhood Conservation District before Tanner Valuation Group (TVG) was <br /> hired and made changes to the properties based on information provided by the <br /> Coalition. Additional work was done on these neighborhoods by TVG. <br /> • County staff reviewed Habitat for Humanity properties and changes were made <br /> to 257 based on deed restrictions that had not been noted previously in the <br /> County's record resulting in a reduction of $15,751 ,700. <br /> • 2,763 total properties received a value change resulting in an overall reduction of <br /> $98,757,700. ORANGE COUNTY <br /> 5 NORTH CAROLINA <br />