To keep pace with other counties
Planned, periodic revaluations help budgetary needs of the county
Revaluations, as intended, equalize the real property tax base and bring properties up or down to current market value
Federal law requires counties across the USA to conduct a revaluation every four years
Every four (4) years
Every eight (8) years
Every ten (10) years
Such sales often do not represent market value as defined by the North Carolina General Statutes
Such sales would reduce taxes countywide
These types of sales are purchased in cash and, therefore, are not indicative of the true market financing
None of the above
It is a foreclosure, liquidation or estate estate sale and may not represent market value
The sale date is different than the date of the county's last revaluation
Changes in the economy have occurred since the county's last revaluation
All of the above
The precise, scientific market value of a piece of property
A replication of how much a property sold for
An opinion and estimate of a property's market value
The price paid for a property adjusted for inflation
You may hire an attorney and make an argument to the courts about your property's assessment
Contact the North Carolina Department of Revenue and file a complaint
Post a YouTube video outlining your reasoning
Contact the Orange County Tax Office directly for an informal review and consultation
Mass appraisal applies the same appraisal principles and theories as a fee appraisal, but it applies these principles to groups of properties rather than an individual property.
While groups of properties are appraised in mass, mass appraisal still involves research, analysis and revision at a single-property level as deemed necessary by the market.
Mass appraisal and fee appraisal both require comparable sales data and other applicable market data.
Both techniques can produce an accurate estimate of value given good, credible market data.
All of the above are true
Follow OCNCTAX on Twitter
Subscribe to email updates from the Tax Office by visiting www.orangecountync.gov, then choose "stay connected" and choose "Tax Administration" as a subscription list.
Attend a community presentation given by the Tax Office
All of the above
Value change notices will be mailed to every property owner after the Tax Office has finalized and reviewed all factors. It is expected that these notices will be mailed between December 2016 and February 2017.
Not until post-revaluation tax bills are mailed, around July or August 2017
No value change notification will be mailed to taxpayers
None of the above.