Title
Vote on a recommendation from the Chatham County Tax Department to approve and accept the proposal for a full measure and list reappraisal to be conducted by Vincent Valuations for $1,462,500 and authorize the County Manager to negotiate and execute all contracts and agreements.
Abstract
Action Requested: Vote on a recommendation from the Chatham County Tax Department to approve and accept the proposal for a full measure and list reappraisal to be conducted by Vincent Valuations for $1,462,500 and authorize the County Manager to negotiate and execute all contracts and agreements.
Introduction & Background: NC General Statute 105-268 requires each county to reappraise all real property at least every eight years. Chatham County operates on a four-year reappraisal cycle. NC General Statute 105-299 states that the Board of County Commissioners may employ appraisal firms, mapping firms or other persons or firms having expertise in one or more of the duties of the assessor to assist the assessor in the performance of these duties. Vincent Valuations has submitted a full measure and list reappraisal proposal that defines the duties they will perform to ensure that we have a successful reappraisal effective January 1, 2022.
Discussion & Analysis: Annually, the County reports to the NC Department of Revenue on the reappraisal budget reserve and the expected total cost of the next reappraisal was $1,500,000 for the fiscal year beginning July 1, 2021. The Chatham County Tax Department recommends a full measure and list reappraisal as part of quality control due to the proposed tax software conversion. Also following the permitting software conversion, there is concern that new construction permits may have been misplaced during the conversion timeframe. Vincent Valuations will include measuring each main building and verifying the data of each parcel. Vincent Valuations staff will verify critical valuation data such as square footage, foundation, basem...
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