The School Board of Broward County, Florida	Meeting: Regular School Board Meeting :  BB. Board Members
BB-1. Value Adjust Board (VAB) Direct Cost Billing June 24, 2014 Status:
Quick Summary / Abstract Approve payment for semi-annual billing for the School Board's share of VAB direct costs. The County Commission uses a Hearing Officer to adjudicate taxpayer petitions concerning property appraisal values and exemptions.  The School Board participates in these hearings  The School Board's share in the cost of the proceedings is 40% of the net expenses.  The net VAB expenses for the period October 1, 2013 through March 31, 2014 were $643,781.28, and the School Board's share (40%) is $257,512.51. Donna Korn is the representative for the School Board on the Value Adjustment Board. The financial impact to the District is $257,512.51.  The source of funds is the Board Members' Department budget. Requested Action Approve payment for semi-annual billing for the School Board's share of VAB direct costs. Summary The County Commission uses a Hearing Officer to adjudicate taxpayer petitions concerning property appraisal values and exemptions.  The School Board participates in these hearings  The School Board's share in the cost of the proceedings is 40% of the net expenses.  The net VAB expenses for the period October 1, 2013 through March 31, 2014 were $643,781.28, and the School Board's share (40%) is $257,512.51. Donna Korn is the representative for the School Board on the Value Adjustment Board. School Board Goals Goal 2: Continuous Improvement Financial Impact The financial impact to the District is $257,512.51.  The source of funds is the Board Members' Department budget. Source of Additional Information Robert Runcie 754 321-2600 Associated File Attachments VAB Memorandum - Invoice (Files)   VAB Bylaws (Files)   Executed ARF (Files)