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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: October 18,2011 <br />Action Agenda <br />Item No. _ <br />SUBJECT• Property Tax Release and/or Refund <br />DEPARTMENT: Tax Administration PUBLIC HEARING: (YIN) No <br />ATTACHMENT(S): <br />Resolution <br />Spreadsheet <br />INFORMATION CONTACT: <br />Jenkins S. Crayton, 245-2735 <br />PURPOSE: To consider adoption of a resolution to release property values related to one (1) <br />request for property tax release and/or refund. <br />BACKGROUND: The Tax Administration Office has received one (1) request from a taxpayer <br />for refund of property taxes paid in prior fiscal years. North Carolina General Statute 105- <br />381(b), Action of Governing Body provides that upon receiving a taxpayer s written statement <br />of defense and request for release' or refund, the`governing body of the Taxing Unit shall .within <br />90 days after receipt of such a request determine whether the taxpayer has a valid defense to <br />the tax imposed or any part thereof and shall either release or refund that portion of the amount <br />that is determined to be in excess of the correct liability or notify the taxpayer in writing that no <br />release or refund will be made". North Carolina law allows the Board to approve property tax <br />refunds for the current and four previous fiscal years. <br />FINANCIAL IMPACT: Approval of this change will result in a net reduction in revenue of <br />$177.46 to the County, municipalities, and special districts. The Tax Assessor recognized that <br />refunds could impact the 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 refund request in accordance with North Carolina <br />General Statute 105-381. <br />