Agenda Package - 01-03-11 - Laserfiche WebLink

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Dwane Brinson, CAE Tax Administrator 718 -4661 ext. 5418 • Mary Yow, PPS Listing Manager 718 -4661 ext. 5420 Dear Lee County Board of Commissioners, Lisa Faulkner Appraisal Manager 718 -4660 ext. 5413 Denette Fitzpatrick Collection Manager 718 -4662 ext. 5423 This summary provides an estimate of the budget impact for the 2013 revaluation. It identifies increases in variable expenses that are associated with a revaluation. Isolating the total estimated budget increase for the scheduled 2013 revaluation is necessary. Therefore, we have provided a summary table in this letter. Impact on the current budget of performing a 2013 revaluation includes replacing the third appraiser position that was eliminated when the 2011 revaluation was delayed until 2013. Total costs for reinstating this position, including annual salary and benefits, amounts to approximately $25,000 for the current fiscal year 2010— 2011. Below is a comparison showing the budgetary impact of performing a 2013 revaluation. The affected line -items are provided as an enclosure. This is not the total cost of performing a revaluation, but it • shows the additional expenditures for this fiscal year and the next two fiscal years. Some expense overlap exists and we have taken time to dissect "sunk costs ", which includes those costs experienced by the tax office in any given year. A summary computation is provided below. It shows the current fiscal year impact and the impact on the next two fiscal years of moving forward with a 2013 revaluation. Current fiscal year impact: $25,000 Increase of variable costs (taken from enclosure) + $171,300 Total estimated increase due to revaluation: $196,300 Respectfully, LEE COUNTY Committed Today for a Better Tomorrow T. Dwane Brinson, Tax Administrator Enclosure • OFFICE OF THE TAX ADMINISTRATOR P O Box 1968 • 106 Hillcrest Drive • Sanford NC 27331 -1968 Tel 919 - 718 -4661 • Fax 919 -718 -4633