Agenda - 12-06-2010 - 4d - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: December 6, 2010 Action Agenda 1 Item No. ~- -cl~ SUBJECT• Property Tax Releases or Refunds DEPARTMENT: Tax Administration PUBLIC HEARING: (YIN) No ATTACHMENT(S): Resolution Release/Refund Data Spreadsheet INFORMATION CONTACT: Jo Roberson, Tax Administrator 919-245-2727 PURPOSE: To consider adoption of a resolution to release property values related to thirty (30) requests for property tax release or refund. BACKGROUND: The Tax Administration Office is requesting approval to release property values related to thirty (30) requests for property tax release or refund. (see explanations on attached spreadsheet). General Statute 105-381(b), "Action of Governing Body" provides "upon receiving a taxpayer's written statement of defense and request 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. FINANCIAL IMPACT: Approval of these changes will result in a net reduction in revenue of $9,182.25 to the County, municipalities, and special districts 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 that the Board approve the attached resolution approving these property tax release or refund requests in accordance with N.C. General Statute 105-381.