Thursday, October 04, 2012
NO Property Revaluation
Orange County, NC voted 6-1 to NOT revaluate property until 2015. What does this mean for the county & you, as well as your real estate as a homeowner? This decision to delay property valuation will save time and money, and provide the county with an additional $350,000 to use at the board’s discretion, while helping to protect Chapel Hill & Carrboro homeowner’s real estate property values during the current countrywide economic times.
County Commissioner Alice Gordon stated “there’s no point expending the time and money to conduct a revaluation if the result is greater inequity for property owners”. This decision did meet some opposition though, as the lone opposing vote, County Commissioner Earl McKee stated that he was concerned that the decision to not revaluate would give the impression to Chapel Hill & Carrboro homeowners and residents, that property values could go down, and therefore cause the county to loose money.
What do you think? Do you agree with Alice Gordon, or Earl McKee of the Orange County Board of Commissioners? Are you a Chapel Hill or Carrboro North Carolina homeowner? Are you as excited about his decision as we are?
NO Property Tax Increase
The initial budget for 2013 was also reviewed, and Orange County Manager Frank Clifton has recommended NOT increasing property taxes, and says that he is committed to finding extra funds in the budget to support the needs of Chapel Hill-Carrboro and Orange County school boards without raising taxes.