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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: April 6, 2010 <br /> Action Agenda <br /> Item No. <br /> SUBJECT: Property Tax Releases <br /> DEPARTMENT: Tax Administration PUBLIC HEARING: (Y/N) No <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Jo Roberson 245-2727 <br /> Resolution <br /> Spreadsheet <br /> PURPOSE: To consider adoption of a resolution to release property values related to thirteen <br /> (13) requests for property tax releases. <br /> BACKGROUND: The Tax Administration Office is requesting approval to release property <br /> values related to thirteen (13) requests for property tax release. (see explanations on attached <br /> spreadsheet). North Carolina General Statute 105-381(b), "Action of Governing Body" provides <br /> "upon receiving a taxpayer's written statement of defense and request for release or refund, the <br /> governing body of the Taxing Unit shall within 90 days after receipt of such a request determine <br /> whether the taxpayer has a valid defense to the tax imposed or any part thereof and shall either <br /> release or refund that portion of the amount that is determined to be in excess of the correct <br /> liability or notify the taxpayer in writing that no release or refund will be made". North Carolina <br /> law allows the Board to approve property tax releases for the current and four previous fiscal <br /> years. <br /> FINANCIAL IMPACT: Approval of these changes will result in a net reduction in revenue of <br /> $26,378.80 to the County, municipalities, and special districts for FY 2009/2010. The approval <br /> of these releases will bring the total net reduction for the 2009/2010 fiscal year to $150,034.31. <br /> The Tax Administrator recognized that releases and Property Tax Commission decisions can <br /> impact the budget and accounted for these in the annual budget projections. <br /> RECOMMENDATION(S): The Manager recommends the Board approve the attached <br /> resolution approving these property tax release requests in accordance with N.C. General <br /> Statute 105-381. <br />