Agenda - 03-31-1998 - 2 - Laserfiche WebLink

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DRAFT RESOLUTION REQUESTING CONSIDERATION OF A PROPERTY TAX DIBCOUN'f FOR THE ELDERLY WHEREAS, elderly home owners throughout North Cazolina are finding it harder and hazder to pay their property taxes because of rising market values; and WHEREAS, throughout the state, some home values have jumped as much as 50 percent since 1991, and while this is considered a good return on an investment, it can create a hazdship for the elderly, who could be paying as much in taxes as it originally cost to purchase their home; and WF~REAS, North Cazolina is not among the 20 other states that allow elderly home owners to defer tax payments until they sell their homes or die, allowing back taxes to be paid from home sale profits or the estates; and WHEREAS, only seniors with an income of $15,000 or less qualify for North Carolina's homestead program, which subtracts $20,000 from a home's value; and WHEREAS, the Orange County Board of Commissioners believes that if this problem is not addressed, it could force elderly citizens out of their homes and into nursing or retirement facilities. NOW, THEREFORE, BE TT RESOLVED by the Orange County Board of Commissioners: I . That the Boazd of County Commissioners requests that the North Cazolina Legislature address this problem and consider statewide implementation of a property tax discount or deferment for senior citizens. 2. That the Board requests the North Carolina Association of County Commissioners to work with Orange and the 99 other counties and the Legislature to formulate an acceptable solution to this growing problem. 3. That a copy of this resolution be sent to the Boazds of the State's other 99 counties and the local legislative delegation. 4. That this resolution be effective upon its adoption. ADOPTED this the day of 1998. Mazgazet W. Brown, Chair Beverly A. Blythe, Clerk to the Boazd '14' Geoff Gledhill, County Attorney