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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: April 17, 2000 <br />Action Agenda <br />Item No. 8- e, <br />SUBJECT: Property Value Changes <br />DEPARTMENT: Assessor's Office PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): INFORMATION CONTACT: <br />John Smith, ext 2101 <br />Spreadsheet <br />Value Change Resolution TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To consider approving value changes made in property values for 1999 after the <br />1999 Board of Equalization and Review has adjourned. <br />BACKGROUND: North Carolina General Statute 105-325(a) provides in part that "After the <br />board of equalization and review has finished its work and the changes it affected or ordered <br />have been entered on the abstracts and tax records as required by G.S. 105-323, the board of <br />county commissioners shall have the authority to make changes on the abstract and tax <br />records." This section enumerates the circumstances under which a board of commissioners <br />can make valuation changes. <br />The Orange County Board of Equalization and Review adjourned on June 17, 1999. Since that <br />time, the developer of Scottland Estates, LLC, a subdivision located on the west side of State <br />Road 1119 (Nicks Road), brought it to our attention that the subdivision had not received final <br />approval and that required infrastructure, particularly roads, did not exist in this subdivision as of <br />January 1, 1999. Therefore, the values should be adjusted accordingly. <br />FINANCIAL IMPACT: Approval of these changes will reduce assessed value by $342,180 for <br />1999. This will result in a net reduction in revenue of $3,301.26 to the County, municipalities, <br />and special districts. <br />RECOMMENDATION: The Manager recommends that the Board adopt the resolution <br />approving the attached value changes. <br />