Orange County NC Website
ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: April 21, 2009 <br />Action Agenda <br />Item No. <br />SUBJECT: Property Tax Releases <br />DEPARTMENT: Assessor's Office PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />Resolution <br />Spreadsheet <br />INFORMATION CONTACT: <br />John Smith, 245-2101 <br />PURPOSE: To consider adoption of a resolution to release property values related to thirteen <br />(13) requests for property tax release. <br />BACKGROUND: The Assessor's Office is requesting approval to release property values <br />related to thirteen (13) requests for property tax release. (see explanations on attached <br />spreadsheet). General Statute 105-381(b), "Action of Governing Body" provides "upon receiving <br />a taxpayer's written statement of defense and request for release or refund, the governing body <br />of the Taxing Unit shall within 90 days after receipt of such a request determine whether the <br />taxpayer has a valid defense to the tax imposed or any part thereof and shall either release or <br />refund that portion of the amount that is determined to be in excess of the correct liability or <br />notify the taxpayer in writing that no release or refund will be made". North Carolina law allows <br />the Board to approve property tax releases for the current and four previous fiscal years. <br />FINANCIAL IMPACT: Approval of these changes will result in a net reduction in revenue of <br />$29,371.81 to the County, municipalities, and special districts for FY 2008/2009. The approval <br />of this release will bring the total net reduction for FY 2008/2009 to $115,286.79. The Tax <br />Assessor recognized releases and Property Tax Commission decisions can impact the budget <br />and accounted for these in the annual budget projections. <br />RECOMMENDATION(S): The Manager recommends the Board approve the attached <br />resolution approving thirteen (13) property tax release requests in accordance with N.C. General <br />Statute 105-381. <br />