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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: June 1, 2010 <br />Action Agenda <br />Item No. + — C <br />SUBJECT: Property Tax Releases <br />DEPARTMENT: Tax Administration PUBLIC HEARING: (Y /N) No <br />ATTACHMENT(S): <br />Resolution <br />Spreadsheet <br />INFORMATION CONTACT: <br />Jo Roberson, 245 -2727 <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 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 />$8,450.55 to the County, municipalities, and special districts for FY 2009/2010. The Tax <br />Administrator recognized that releases and Property Tax Commission decisions can impact the <br />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 />