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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: February 5, 2008 <br />Action Agenda <br />Item No. 4 _d <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 one (1) request for property <br />tax refund. <br />BACKGROUND: The Assessor's Office has received one (1) request from a taxpayer for refund <br />of property taxes paid in prior fiscal years. General Statute 105-381(b), "Action of Governing <br />Body" provides that "upon receiving a taxpayer's written statement of defense and request for <br />release or, refund, the governing body of the Taxing Unit shall within 90 days after receipt of <br />such a request determine whether the taxpayer has a valid defense to the tax imposed or any <br />part thereof and shall either release or refund that portion of the amount that is determined to be <br />in excess of the correct liability or notify the taxpayer in writing that no release or refund will be <br />made". North Carolina law allows the Board to approve property tax refunds for the current and <br />four previous fiscal years. <br />FINANCIAL IMPACT: Approval of this change will result in a net reduction in revenue of <br />$167.72 to the County, municipalities, and special districts. For fiscal year 2007/2008, the total <br />net reduction in revenue is $3,685.22. 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 one (1) property tax refund request in accordance with N.C. General <br />Statute 105-381.