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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: October 3, 2000 <br />Action Agen a <br />Item No. -~. <br />SUBJECT: Adoption of Schedule of Values for 2001 Revaluation <br />DEPARTMENT: Assessors Office PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): None INFORMATION CONTACT: <br />John Smith, ext 2101 <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 9fi8-4501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To consider adoption of the schedule of values, standards, and rules to be used in <br />appraising real property in Orange County effective January 1, 2001. <br />BACKGROUND: In accordance with the North Carolina General Statutes, the County <br />Assessor has submitted the proposed schedule of values, standards, and rules to be used in <br />appraising real property in Orange County effective January 1, 2001 and throughout the period <br />until a subsequent revaluation is conducted. Copies of this schedule of values have been made <br />available for inspection by the public in the Assessor's Office. The Board conducted the <br />required public hearing on the schedule of values at the September 19, 2000 regular meeting. <br />State statutes require that notice of the Board's order approving the schedule of values be <br />published once a week for four successive weeks with the last publication being not less than <br />seven days before the last day for challenging the validity of the schedules, standards, and <br />rules by appeal to the Property Tax Commission. Property owners who feel that the schedule is <br />invalid have 30 days within which to appeal from the first date of publication of the notice of the <br />order approving the final schedule of values. If there are no appeals to the adopted schedule of <br />values, the Assessor will be prepared to send out 2001 valuation notices to real property <br />owners by early December. <br />FINANCIAL IMPACT: None <br />RECOMMENDATION: The Manager recommends that the Board approve the final schedule of <br />values, standards and rules, and direct the Assessor to observe all statutory requirements <br />related to public notice about the schedule of values. <br />