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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: January 15, 2008 <br />Action Agenda <br />Item No. 4 <br />SUBJECT: Property Tax Refunds <br />DEPARTMENT: Assessor's Office PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />Resolution <br />Spreadsheet <br />INFORMATION CONTACT: <br />John Smith, 245-2101 <br />PURPOSE: To consider adoption of a refund resolution related to three (3) requests for <br />property tax refund. <br />BACKGROUND: The Assessor's Office has received three (3) requests from taxpayers for <br />refund of property taxes paid in prior fiscal years. General Statute 105-381(b), "Action of <br />Governing Body" provides that "upon receiving a taxpayer's written statement of defense and <br />request for release or refund, the governing body of the Taxing Unit shall within 90 days after <br />receipt of such a request determine whether the taxpayer has a valid defense to the tax <br />imposed or any part thereof and shall either release or refund that portion of the amount that is <br />determined to be in excess of the correct liability or notify the taxpayer in writing that no release <br />or refund will be made". North Carolina law allows the Board to approve property tax refunds for <br />the current and four previous fiscal years. <br />FINANCIAL IMPACT: Approval of this change will result in a net reduction in revenue of <br />$532.55 to the County, municipalities, and special districts. For fiscal year 2007-2008, the total <br />net reduction in revenue is $3,517.50. The Tax Assessor recognized that refunds could impact <br />the budget and accounts for these in the annual budget projections. <br />RECOMMENDATION(S): The Manager recommends that the Board approve the attached <br />resolution approving three (3) property tax refund requests in accordance with N.C. General <br />Statute 105-381. <br />