Orange County NC Website
ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: September 2, 2010 <br />Action Agenda <br />Item No. L{- - G <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 sixty-nine <br />(69) requests for property tax release for the 2010 tax year. <br />BACKGROUND: The -Tax Administration Office is requesting approval to release property <br />values related to sixty-nine (69) requests for property tax release. (see explanations on attached <br />spreadsheet). North Carolina General Statute (NCGS) 105-381(b), "Action of Governing .Body" <br />provides "upon receiving a taxpayer's written statement of defense and request for release or. <br />refund, the governing body of the Taxing Unit shall within 90 days after receipt of such a <br />request determine whether the taxpayer has a valid defense to the tax imposed or any part <br />thereof and shall either release or refund that portion of the amount that is determined to be in <br />excess of the correct liability or notify the taxpayer in writing that no release or refund will be <br />made". North Carolina law allows the Board to approve property tax releases for the current <br />and four previous fiscal years. <br />FINANCIAL IMPACT: Approval of these changes will result in a net reduction in revenue of <br />$76,154.95 to the County, municipalities, and special districts for FY 2010/2011. 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 />