Title
Revaluation Reserve Fund Appropriation
Action
ACTION:
Appropriate $1,457,175 held in the Revaluation Reserve Fund to be used for revaluation expenses within the County Assessor's Office
Staff Contact: Lotrel Feaster, Assessor's Office
Presentation: No
BACKGROUND/JUSTIFICATION:
This action appropriates all prior and current year funding within the revaluation reserve fund to pay for any and all expenses associated with the accurate and timely completion of the 2027 revaluation in accordance with NC.G.S 105-286. Funds are added to the revaluation reserve fund each year to ensure adequate resources are available between now and revaluation date.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
Reduction of $1,457,175 to the Revaluation Reserve Fund (RVAL) balance