Agenda - 02-02-2010 - 4g - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: February 2, 2010 Action Agen a Item No. - SUBJECT: Applications for Property Tax Exemption/Exclusion DEPARTMENT: Tax Administration PUBLIC HEARING: (Y/N) No ATTACHMENT(S): INFORMATION CONTACT: Exempt Status Resolution Jo Roberson, 245-2727 Spreadsheet Requests for Exemption/Exclusion PURPOSE: To consider twelve (12) untimely applications for exemption/exclusion from ad valorem taxation for the 2009 tax year. BACKGROUND: North Carolina General Statutes (NCGS) require applications for exemption to be filed during the normal listing period, which is during the month of January. NCGS 105- 282.1(a)(5) does allow some discretion. Upon a showing of good cause by the applicant for failure to make a timely application, an application for exemption or exclusion filed after the close of the listing period may be approved by the Department of Revenue, the board of equalization and review, the board of county commissioners, or the governing body of a municipality, as appropriate. An untimely application for exemption or exclusion approved under this subdivision applies only to property taxes levied by the county or municipality in the calendar year in which the untimely application is filed. Nine applicants are applying for homestead exclusion based on NCGS 105-277.1, which allows exclusion of the greater of twenty-five thousand dollars ($25,000) or fifty percent (50%) of the appraised value of the residence. Based on the information supplied in the applications and the above referenced general statutes, the applicants can be approved for 2009. The opinion of the Assessor is the information provided to date satisfies the good cause requirement of NCGS 105-282.1(a)(5) and these properties should be approved for exclusion. Two applicants are applying for a Disabled Veteran exclusion based on NCGS 105-277.1 C, which excludes up to the first $45,000 of the appraised value of the permanent residence of an honorably discharged veteran who has a total and permanent disability that is service- connected or who receives benefits for special adapted housing under 38 U.S.C.2101. One applicant is applying for participation in the Circuit Breaker Property Tax Deferment program based on NCGS 105-277.1 B. Under this program, taxes for each year are limited to a percentage of the qualifying owner's income. A property owner whose income amount for the previous year does not exceed the income eligibility limit for the current year (which for 2009 is $25,600) has taxes limited to 4% of the owner's income. For an owner whose income exceeds the income eligibility limit but does not exceed 150% of the income eligibility limit (38,400), taxes are limited to 5% of the owner's income.