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~~' ~ t <br />2 <br />FINANCIAL IMPACT: Approval of exemption of this property (currently valued at $1,825,361) <br />would result in the release of a 1998 tax bill of $22,657.66, distributed between taxing <br />jurisdictions as follows: <br />Orange County $16,464.76 <br />Chapel Hill-Carrboro Schools 3,504.69 <br />South Orange Fire District 1,606.32 <br />Accrued Interest 1,081.89 <br />RECOMMENDATION: The Administration recommends that the Board adopt the resolution <br />approving the application for 1998 exemption. <br />