Agenda - 09-02-2008 - 4e - Laserfiche WebLink

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will give you an indication of how close the appraisals within each district approximate market value. What remains then, is to compare the statistical measures across districts and property classes in order to determine those areas, if any, which need to be further investigated, revising the appraisals, if necessary, to attain a satisfactory level of value and equalization throughout the entire jurisdiction. With due cognizance of all factors having effect upon the values of properties found in Orange County being recognized in the foregoing manner, these factors and resulting value indications are reconciled into the schedules of values, as adopted and incorporated herein by reference. This procedure facilitates consideration of the large amount of data involved in the revaluation project, while also providing an easy reference of both the tax office staff and the taxpayer. As adopted, the schedules of values remain in effect until the next general revaluation in Orange County and serve, in conjunction with the provisions of the "Machinery Act", as the basis for all assessments by the County. F. FINAL ESTIMATE OF VALUE The techniques and procedures set forth herein, if applied skillfully, should yield highly accurate and equitable property valuations, and provide a sound property tax base. Final estimates of values will be shown on individual property cards maintained in the tax office files. These property record cards shall identify the physical features of the property appraised, and other factors having effect upon its value (See Section V, Property Record Cards) . The calculation of final values will be generally based upon unit rates as reflected in the schedules of values. (It should be remembered that these unit rates have been developed from analysis and consideration of all available data, and do not necessarily reflect only one approach) .