ASSESSMENT UPDATE
revaluation review, new construction, & assessed value projections
KEN JOYNER
BOARD OF COUNTY COMMISSIONERS ANNUAL RETREAT
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ASSESSMENT UPDATE
◦ Framework for the BOCC update
◦ Item 1 - Revaluation Review
◦ Point 1 - Valuations Process
◦ Point 2 - Appeals
◦ Point 3 - Refunds & Discoveries
◦ Point 4 - Legislative Amendment SB159
◦ Payment Plans
◦ Discoveries
◦ Item 2 - New Construction Data
◦ Point 1 - # of Permits
◦ Point 2 - % Increase in Permits
◦ Point 3 - Timeframe for Completion of Field work/Data Entry
◦ Point 4 - Historical Growth in Real Property base
◦ Item 3 - Assessed Valuation Estimate for FY17 (including an explanation of the FY16 Tax Base)
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Item #1: Revaluation Review
◦ Point 1 of Project - Valuation Process
◦ Completed in March of 2015
◦ Completed ON-TIME based on the ORIGINAL 18 month period
◦ Total Reduction in Value
Year
Count
Pre-Review Value
Pearson Value
Change
%
BOCC Approval
2014
342,355
$96,745,628,245
$95,459,882,598
($1,285,745,647)
-1.329%
Jan 2014 - Feb 2015 only
2013
351,282
$100,481,034,350
$98,968,452,514
($1,513,552,536)
-1.506%
Oct 2013 -Feb 2015
2012
350,121
$99,676,151,333
$97,991,612,264
($1,689,049,569)
-1.695%
Oct 2013 -Feb 2015
2011
349,227
$99,128,583,665
$97,535,798,476
($1,594,138,989)
-1.608%
Oct 2013 -Feb 2015
◦ Parcels details
◦ 69% No Change
◦ 8% Increases in Value
◦ 23% Reductions in Value
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Item #1: Revaluation Review
◦ Point 2 of Project – Appeals Process – Completed December 2015
◦ Hearings - Completed Dec 2015
◦ Closed appeals – 23,932 appeals heard at the BER level
◦ Decision Letters - Completed Jan 22nd, 2016
◦ Increase bills remaining
◦ Appeal rights - Individuals will have a 30 appeal period
◦ Process - The next BER will handle those as part of their normal process
◦ Impact - Should have minimal impact
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Item #1: Revaluation Review
◦ Point 3 of Project – Refunds & Discoveries (Increase Bills) Process
◦ Refunds (No appeals)
◦ Completed
◦ 319,865 Refunds
◦ $43,946,498.01 Paid to Date
◦ In-Process
◦ 55,235 Refunds
◦ $17,005,935.64 Remaining to Be Paid (Does Not Included Interest)
◦ Total
◦ 375,100 Refunds
◦ $60,902,393.01
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Item #1: Revaluation Review
◦ Point 3 of Project – Refunds & Discoveries (Increase Bills) Process
◦ Refunds (BER362 appeals)
◦ Completed
◦ 9,289 Refunds
◦ $12,661,577 Paid to Date
◦ In-Process
◦ 434 Refunds
◦ $98,837 Remaining to Be Paid
◦ Total BER362 appeals
◦ 9,723 Refunds
◦ $12,760,414
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Item #1: Revaluation Review
◦ Point 3 of Project – Refunds & Discoveries (Increase Bills) Process (as of 1-25-16)
◦ Refunds (PTC362 appeals)
◦ Completed
◦ 662 Refunds
◦ $23,958,516 Paid to Date (Includes Interest)
◦ In-Process
◦ 84 Refunds
◦ $2,251,672.69 Remaining to Be Paid (Does Not Include Interest)
◦ Total PTC362 appeals
◦ 746 Refunds
◦ $26,210,188.69 Total
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Item #1: Revaluation Review
◦ Point 3 of Project (Cont.) – Refunds & Discoveries (Increase Bills) Process
◦ Discovery (Increase Bills)
◦ One time funding
◦ Completed
◦ 74,484 Discovery/Increase bills
◦ $16,525,188 Billed to Date
◦ In-Process
◦ 16,545 Increase Bills Remaining
◦ $8,703,154 Remaining to be Billed
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Item #1: Revaluation Review
◦ Point 4 of Project Legislative Amendment SB159
◦ Approved by the General Assembly on October 1, 2015
◦ Changes to the Original Revaluation Review Process
◦ Payment Plans (through 1/21)
◦ Total plans applications = 258
◦ Total Declines = 131
◦ Total pending = 0
◦ Total Approval = 127
◦ Approval Funds = $411,715.28
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Item #1: Revaluation Review
◦ Point 4 of Project Legislative Amendment SB159 (CONT.)
◦ Approved by the General Assembly on October 1, 2015
◦ Discovery (Increase Bills) to January 1 owner
◦ 1164 unpaid bills that we released and will be rebilled
◦ 3576 customers mailed a letter identifying “They may be due a refund……” on bills they have paid
◦ 3,188 bills that remained unpaid had their interest date adjusted to 1-6-16 versus 1-6-15
◦ 8,465 bills that have been paid that had their interest date adjusted that are now due a refund
◦ $451,057.02 including all districts (not including interest)
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Item #2: New Construction Data
PERMITS ISSUED BY CALENDAR YEAR
Building Permits
Mechanical Permits
All Permits
60,000
NO. OF PERMITS ISSUED
50,000
40,000
32,503
34,345
41,076
38,369
45,299
27,789
48,574
29,193
23,053
24,858
13,683
15,316
16,218
17,510
2010
2011
2012
2013
2014
2015
Building Permits
2010
13,003
2011
13,683
2012
15,316
2013
16,218
2014
17,510
2015
19,381
Mechanical Permits
19,500
20,662
23,053
24,858
27,789
29,193
All Permits
32,503
34,345
38,369
41,076
45,299
48,574
30,000
19,500
20,662
13,003
20,000
10,000
19,381
0
CALENDAR YEAR
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Item #2: New Construction Data
◦ Point 2 – Permits
◦ % growth in Permits over the prior calendar year 2015
◦ Historical comparison
2010-11
2011-12
2012-13
2013-14
2014-15
Overall
Construction
5.2%
12.0%
5.9%
8.0%
10.7%
49.1%
Mechanical
6.0%
11.6%
7.8%
11.8%
5.1%
49.7%
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Item #2: New Construction Data
◦ Point 3 – CAO New Construction completion timeframe by year
◦ 2016 estimated
◦ Field work 1/31/16
◦ Data Entry 2/29/16
◦ Historical comparison
Completion
Date
2010
2011
2012
2013
2014
2015
Fieldwork
2/23/10
5/12/11
8/29/12
4/10/13
2/14/14
2/13/15
Data Entry
4/23/10
7/12/11
10/29/12
6/10/13
4/14/14
4/13/15
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Item #2: New Construction Data
◦ Point 4 – Historical Growth in Real Property Base
◦ Real Property is the largest segment of the tax base
◦ Historical comparison
Completion
Date
2009
% Growth
Real
Property
Base
$-Real
Property
Base
$81.279 B
2010
2011
2012
2013
2014
2015
1.5%
11.3% *
0.4%
1.0%
1.7%
$82.517 B
$91.813 B
$92.206 B
$93.133 B
$94.608 B
2016
2.7%
Approx.
2.0%
$97.289 B $99.265 B
* Revaluation Year
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Item #3: Assessed Valuation Estimate
FY17
◦ Item 3 - Assessed Valuation Estimate for FY17
FY16 Budget
Real Estate
FY16 Actuals *
FY17 Estimate
97,070,689,452
97,288,094,089
99,265,612,901
Personal
9,268,662,370
9,277,258,953
9,418,778,607
Motor Vehicles
8,729,611,722
8,708,134,184
9,056,459,552
Public Utilities
4,436,919,206
4,194,805,689
4,446,494,030
119,505,882,750
119,468,292,915
122,187,345,090
TOTAL
* Adjusted base – removed one-time valuations anomalies
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Item #3: Assessed Valuation Estimate
FY17
◦ Item 3 – Adjusted FY16 Actuals INCLUDING the One-Time REVENUE Items
FY16
Real Estate
97,288,094,089
Personal
9,277,258,953
Motor Vehicles
8,708,134,184
Public Utilities
4,194,805,689
Total excluding one-time funding
Prior Year Audit
SL362 Discoveries
FY15 Airline Discovery – Public Utilities
Total FY16 Billing
119,468,292,915
+ 408,747,595
+ 1,876,213,978
+ 519,454,191
122,272,708,679
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