Agenda - 11-18-2008 - 3a - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: November 18, 2008 Action Agenda Item No. 3 - q SUBJECT: 2009 Revaluation DEPARTMENT: Assessor's Office PUBLIC HEARING: (Y/N) No ATTACHMENT(S): Ten-Year Summary of Real Property Filed Foreclosures in Orange County from Orange County Register of Deeds Records INFORMATION CONTACT: John Smith, 245-2101 PURPOSE: To provide information to and answer questions from the Board of County Commissioners concerning the 2009 Revaluation. BACKGROUND: The Orange County Revaluation Team has been researching, studying, and analyzing the activity in the real estate market since the completion of the last revaluation in 2005. An extensive sales file has been developed in the effort to produce an accurate and equitable estimate of market value for all property located within the boundaries of Orange County. The 2009 Revaluation is nearing completion and is scheduled to become effective on January 1. The Assessor's office plans to conduct informative meetings with homeowners associations and civic groups to explain the process. Additionally, the Assessor has prepared a mailing designed to inform and involve County residents. The County Assessor will provide a brief explanation about revaluation, the revaluation process, and its purpose. Following the presentation, the Assessor will respond to any questions the Board may have. Based on a request, and for the Board's information, staff has provided aten-year summary of real property filed foreclosures in Orange County from the Orange County Register of Deeds records. FINANCIAL IMPACT: There are no financial impacts associated with addressing the Board. RECOMMENDATION(S): The Manager recommends the Assessor provide information on the revaluation process and answer questions and concerns of the Board.