Agenda - 08-17-2010 - 4f - Laserfiche WebLink

Browse Search

1 ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: August 17, 2010 Action Agenda Item No. L{- --� SUBJECT• Property Tax Releases DEPARTMENT: Tax Administration PUBLIC HEARING: (Y/N) No ATTACHMENT(S): INFORMATION CONTACT: Jo Roberson 245-2727 Resolution Spreadsheet PURPOSE: To consider adoption of a resolution to release property values related to finrenty- four (24) requests for property tax release. BACKGROUND: The Tax Administration Office is requesting approval to release property values related to finrenty-four (24) requests for property tax release. (see explanations on attached spreadsheet). North Carolina General Statute 105-381(b), "Action of Governing Body" provides "upon receiving a taxpayer's written statement of defense and re,quest for.release or refund, the governing body of the Taxing Unit shall within 90 days after receipt of such a request determine whether the taxpayer has a valid defense to the tax imposed or any part thereof and shall either release or refund that portion of the amount that is determined to be in excess of the correct liability or notify the taxpayer in writing that no release or refund will be made". North Carolina law allows the Board to approve property tax releases for the current and four previous fiscal years. Nine (9) requests for release are for the 2009 tax year and fifteen (15) are for the 2010 tax year. FINANCIAL IMPACT: Approval of these changes will result in a net reduction in revenue of $6,341.05 to the County, municipalities, and special districts for FY 2009/2010 and $38,471.37 for FY 2010/2011. The Tax Administrator recognized that releases and Property Tax Commission decisions can impact the budget and accounted for these in the annual budget projections. RECOMMENDATION(S): The Manager recommends the Board approve the attached resolution approving these property tax release requests in accordance with N.C. General Statute 105-381.