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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: August 15, 2000 <br />Action Agenda <br />Item No. g- e <br />SUBJECT: Property Value Changes <br />DEPARTMENT: Assessor's Office PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />INFORMATION CONTACT: <br />John Smith, ext 2101 <br />Resolution & <br />Spreadsheet TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To consider approving value changes made in property values after the 2000 Boazd of <br />Equalization and Review has adjourned. <br />BACKGROUND: North Cazolina General Statute 105-325(a) provides in part that "After the boazd 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 boazd of commissioners can make valuation changes. <br />The Orange County Board 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. <br />1=INANCIAL IMPACT: Approval of these changes will increase assessed value by $10,272,599 for 2000. <br />This will result in a net increase in revenue of $178,515.02 to the County, municipalities, and special <br />districts. <br />RECOMMENDATION: The County Manager recommends that the Board adopt the resolution <br />approving the attached value changes.' <br />