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~}{-~ Bch ~n ~,~ <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA- ITEM ABSTRACT <br />Meeting Date: June 29, 2000 <br />Action Agenda <br />Item No. d <br />SUBJECT: Property Value Changes <br />DEPARTMENT: Assessor's Office PUBLIC HEARING: (Y/N) Na <br />ATTACHMENT(S); INFORMATION CONTACT; __ <br />John Smith, ext 2101 <br />Resolution & <br />Spreadsheet 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 after the 2000 Board of <br />Equalization and Review has adjourned. <br />BACKGROUND: North Carolina General Statute 105-325(a) provides in part that "After the board of <br />equalization and review has finished its work and the changes it affected or ordered have been entered on <br />the abstracts and tax records as required by G.S. 105-323, the board of county commissioners shall have <br />the authority to make changes on the abstract and tax records." This section further enumerates the <br />circumstances under which a board of commissioners can make valuation changes. <br />The Orange County Boazd of Equalization and Review adjourned on May 25, 2000. Since that time, staff <br />have identified a number of changes to the values of specific properties which can and should be made, in <br />accordance with the statutory provisions. The bulk of these changes are typical Land Record changes in <br />land size due to recorded documents, such as plats, deeds, surveys, or DOT right of ways. These changes <br />are summarized in the attached spreadsheet. <br />FINANCIAL IMPACT: Approval of these changes will decrease assessed value by $103,537 for 2000. <br />This will result in a net decrease in revenue of $2400 to the County, municipalities, and special districts. <br />RECOMMENDATION: The County Manager recommends that the Board adopt the resolution <br />approving the attached value changes. <br />