Agenda - 08-19-2008- 5d - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: August 19, 2008 Action Agenda Item No. SUBJECT: 2009 Revaluation -Schedule of Values DEPARTMENT: Assessor's Office PUBLIC HEARING: (Y/N) Yes ATTACHMENT(S): INFORMATION CONTACT: John Smith, 245-2101 Schedule of Values (Previously Provided Under Separate Cover to the Board on June 24, 2008) PURPOSE: To conduct a public hearing on the schedule of values for the 2009 real property revaluation. BACKGROUND: At its meeting on June 24, 2008,. the Orange County Board of Commissioners scheduled a public hearing for August 19, 2008 on the schedule of values for the 2009 revaluation. The schedule of values, standards, and rules will be used to appraise all real property in Orange County for the January 1, 2009 revaluation, and throughout the period until a subsequent revaluation (scheduled for January 1, 2013) is conducted. The schedule of values covers all components of real property that contributes to its value -both land and improvements to that land. In accordance with the North Carolina General Statutes requiring that the Assessor shall submit the proposed schedules, standards, and rules to the board of county commissioners not less than 21 days before the meeting at which they will be considered by the board, the proposed 2009 schedule of values was submitted on June 24, 2008. Adoption is scheduled for the September 2, 2008 regular meeting of the Board of Commissioners. A copy of the schedule of values is available for review in the County Assessor's Office. The County Assessor will provide a brief presentation about the revaluation process and respond to Board questions before the public hearing is formally conducted. FINANCIAL IMPACT: There are no financial impacts associated with conducting the public hearing. RECOMMENDATION(S): The Manager recommends that the Board conduct the public hearing as scheduled.