Agenda - 08-23-2011 - 5e - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: August 23, 2011 Action Agenda Item No. 5 _~ e SUBJECT: Property Tax Releases and/or Refunds DEPARTMENT: Tax Adrr~inistration PUBLIC HEAfti ING: (Y/N) No ATTACHMENT(S): Resolution Spreadsheet INFORMATION CONTACT: Jenkins S. Crayton, 245-2735 PURPOSE: To consider adoption of a resolution to release property values related to thirty- one (31) requests for property tax release and/or refund. BACKGROUND: The Tax Administration Office has received thirty-one (31) requests from taxpayers for 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 Lability or notify the taxpayer in writing that no release or refund will be made". North Carolina law allows the Board to approve property tax refunds for the current and four_previous fiscal years. ffNANC1AL IMPACT: Approval of this change will result in a net reduction in revenue of $10,624.03 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. RECOIIAMENDATION(S): The Manager recommends the Board approve the attached resolution approving these property tax refund requests in accordance with North Carolina General Statute 105-381.