Agenda - 10-23-2007-4c - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: October 23, 2007 Action Agenda Item No. 4 - G SUBJECT: Applications for Property Tax Exemption DEPARTMENT: Assessor PUBLIC HEARING: (Y/N) No ATTACHMENT(S): INFORMATION CONTACT: John Smith, 245-2101 Exempt Status Resolution Spreadsheet Letters of Request PURPOSE: To consider six (6) untimely applications for exemption/exclusion from ad valorem taxation for the 2007 tax year. BACKGROUND: North Carolina General Statutes state that applications for exemption must be filed during the normal listing period, which is during the month of January. NCGS 105- 282.1(a)(5)does allow some discretion. Upon a showing of good cause by the applicant for failure to make a timely application, an application for exemption or exclusion filed after the close of the listing period may be approved by the Department of Revenue, the board of equalization and review, the board of county commissioners, or the governing body of a municipality, as appropriate. An untimely application for exemption or exclusion approved under this subdivision applies only to property taxes levied by the county or municipality in the calendar year in which the untimely application is filed. One (1) applicant is applying for exemption under NCGS 105-278.7 for charitable purposes and five (5) applicants are applying for homestead exclusion based on NCGS 105-277.1, which allows exclusion of the greater of twenty thousand dollars ($20,000) or fifty percent (50%) of the appraised value of the residence. Based on the information supplied in the current application and the above referenced general statutes, the applicants can be approved for 2007. The opinion of the Assessor is that the information provided to date satisfies the good cause requirement of NCGS 105-282.1(a)(5) and that the six (6) properties should be approved for exclusion. Three of the five homestead applicants gained knowledge of the benefit from inserts in the 2007 tax bills. FINANCIAL IMPACT: The reduction in the County's tax base associated with approval of this exemption application will result in a reduction of 2007 taxes due to the County, municipalities, and special districts in the amount of $4,533.50. For fiscal year 2007/2008, the total net reduction in revenues is $4,533.50. RECOMMENDATION: The Manager recommends that the above listed applications for 2007 exemption be approved.