Orange County NC Website
Browse       Search
1 flea ' 80 of L'oitizr. M ��ANS LiPR° AAA/4.1A-1----. <br /> 4QWfMayor4ia .� Ii Frank H. Sheffield, Jr. rou k <br /> HILLSBOROUGH, /Agatha Johnson <br /> Commissioners NORTH CAROLINA 27278 <br /> Myron L. Martin Supt. Water Works <br /> Horace H. Johnson James Pendergraph <br /> Allen A. Lloyd Street Supt. <br /> Remus J. Smith L.D. Wagoner <br /> Rachel H. Stevens '' Chief of Police <br /> ^.0 Arnold W. Hamlett <br /> Fire Chief <br /> t ©J� John Forrest <br /> April 3, 1987 <br /> Orange County Board of Commissioners <br /> 106 East Margaret Lane <br /> Hillsborough, North Carolina 27278 <br /> Dear Commissioners: <br /> I have been told that special legislation is being considered to <br /> enable Orange County to levy a transfer tax on the conveyance of real <br /> estate. <br /> I am not familiar with the details of how this legislation might <br /> be worded. How much revenue this tax would produce for the Town of <br /> Hillsborough is not yet clear. <br /> The pace of property development in and around Hillsborough, <br /> involving in most instances transfers of property ownerships, is a <br /> sign of prosperity but also a trend which will be placing a consider- <br /> able financial burden on Hillsborough for capital improvements such as <br /> thoroughfares, sewers and parks. The money to accomplish these improve- <br /> ments is not now in sight. <br /> The question of a transfer tax has not been discussed by our town <br /> board. What I can say now is that the town will need money to accomo- <br /> date the community growth. When all aspects of the transfer tax take <br /> shape, this may prove to be a helpful and equitable way to pay some of <br /> the cost of growth. <br /> I am sure that the Town Board would need <br /> the transfer tax and its effect on the Town of more <br /> about <br /> taking any position on this legislation. $ before <br /> Sincerely, <br /> 0,01, '=:=VI'&de <br /> Frank H. Sheffield, Jr. <br /> Mayor <br /> FHS/jc <br /> • <br />