Orange County Property Appraiser Bill Donegan announced Friday that his office has received “the lowest number of assessment appeals since 2001.”
In a statement released Friday morning, Donegan’s office reported that 2,144 petitions were filed for 2012. The deadline to file a petition was Sept. 18.
According to the clerk of the Orange County Value Adjustment Board, roughly 65 percent of the petitions on record are for commercial valuations. Only 22 percent were residential, with another 8 percent filed for "tangible personal property business accounts."
According to Donegan, the remainder are linked to the denial of exemptions and agricultural classifications.
“Often times, there may be information about the property of which we are unaware until provided by the owner”, says Donegan. “If an adjustment is warranted we can amend the property information”.
Orange County has nearly 426,000 tax parcels and nearly 62,000 tangible personal property business accounts. The 2,144 petitions represent less than a half of 1 percent of all properties on the tax roll.
This year’s petition filing is the lowest since 2001 when 1,600 petitions were filed. It is also a 61.5 percent decrease from 2007 when 5,562 petitions were filed in response to the height of the real estate market.