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001 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: August 21, 2012 <br /> Action Agenda <br /> Item No. 5-d <br /> SUBJECT: Property Tax Releases and/or Refunds <br /> DEPARTMENT: Tax Administration PUBLIC HEARING: (Y/N) No <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Resolution Dwane Brinson, Tax Administrator, <br /> Spreadsheet (919) 245-2109 <br /> PURPOSE: To consider adoption of a resolution to release property values related to fifty-three <br /> (53) requests for property tax release and/or refund. <br /> BACKGROUND: The Tax Administration Office has received fifty-three (53) requests from <br /> taxpayers for refunds of property taxes paid in prior fiscal years. North Carolina General <br /> Statute 105-381(b), "Action of Governing Body" provides that "upon receiving a taxpayer's <br /> written statement of defense and request for release or refund, the governing body of the <br /> Taxing Unit shall within 90 days after receipt of such a request determine whether the taxpayer <br /> has a valid defense to the tax imposed or any part thereof and shall either release or refund that <br /> portion of the amount that is determined to be in excess of the correct liability or notify the <br /> taxpayer in writing that no release or refund will be made". North Carolina law allows the Board <br /> to approve property tax 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 /> $18,224.27 to the County, municipalities, and special districts. The Tax Assessor recognized <br /> that 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 requests in accordance with North Carolina <br /> General Statute 105-381. <br />