Agenda - 06-21-2011 - 5d - Laserfiche WebLink

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REVISED 6120111 June 21, 2011 BCC Meeting See Bold on Abstract and Spreadsheet GRANGE CGUNTY BUARD OF CGMMISSIGNERS ACTIGN AGENDA ITEM ABSTRACT Meeting Date: June 21, 2011 Actian Agenda Item No. SUBJECT: Pro ert Tax Releases andlor Refunds DEPARTMENT: Tax Administration PUBLIC HEARING: ~YIN~ No ATTACHMENT(S): Resolution Spreadsheet INFGRMATIGN CGNTACT: Jenkins S. Crayton, 2452109 PURPOSE: To consider adoption of a resolution to release property values related to twenty- four 424 requests for property tax release andlor refund. BACKGRGUND: The Tax Administration Office has received twenty-four ~24~ requests from taxpayers for release andlor refund of property taxes paid in prior fiscal years. North Carolina General Statute 105-381~b}, "Action of Governing Body" provides that "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 andlor refunds for the current and four previous fiscal years. FINANCIAL IMPACT: Approval of this change will result in a net reduction in revenue of $3,282.84 to the County, municipalities, and special districts. The Tax Assessor recognized that refunds could 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 and/or refund requests in accordance with North Carolina General Statute 105-381.