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overpayment. . The appellant and the tax collector may appeal the <br />. decision of the Board in an action brought in the superior court <br /> of the county. . An appeal to the superior court shall be heard As. <br /> novo. <br /> (e) Use and Distribution of Tax Revenue. .. For the first <br /> 12 fiscal years in which a tax levied under this section is in <br /> effect, all proceeds of the tax shall be retained by the county <br /> and shall: be placed in a special Capital Reserve Fund in the <br /> general fund of the county. . Revenue in this Fund may be used by <br /> the county only for capital expenditures for the following: <br /> courts, jails and ' detention facilities, emergency medical <br /> services, libraries, recreation, education, administration, <br /> water, sewage, health, and social services. . <br /> Beginning with the 13th fiscal year in which a tax levied under <br /> this section is in effect, the county shall distribute one-third <br /> (1/3) of the net proceeds of the tax on a quarterly basis to the <br /> Towns of Nags Head, Kill Devil Hills, Kitty Hawk , Southern <br /> Shores, and fanteo in Dare County in proportion to the amount of <br /> ad valorem taxes levied. by each town for the preceding fiscal <br /> year. Revenue distributed to a town may be used only for capital <br /> expenditures. The remaining two-thirds (2/3) of the net proceeds <br /> shall be retained by the county and placed in the special Capital <br /> Reserve Fund established under this subsection , to be used only <br /> for the purposes listed above. As used in this subsection, "net <br /> proceeds" means gross proceeds less the cost to the county of <br /> administering and collecting the tax. <br /> (f) Penalties. - A person who knowingly fails to pay a <br /> tax levied under this section, who knowingly aids another to fail <br /> to pay a tax levied under this section , or who, to avoid paying <br /> part or all of the tax due under this section, knowingly <br /> misstates the total consideration for an interest conveyed is <br /> guilty of a misdemeanor and is punishable by imprisonment for up <br /> to two years and a fine of not less than one hundred dollars <br /> ($ 100. 00) nor more than one thousand dollars ($1 ,000) . <br /> (g) Taxes Recoverable by Action. . If a transferor fails <br /> to pay a tax imposed by this section within 1:0 days . of the tax <br /> collector' s demand that he pay the tax, the tax may be recovered <br /> by Dare County in an action brought in the superior court of the <br /> county. In an action to recover a tax imposed under this <br /> section, costs of court shall include a fee to the county of <br /> twenty-five dollars ($25. 00) for the expense of collection. <br /> (h) Effective Date; Application. A tax levied under <br /> this section shall become effective on the first day of a month, <br /> as ' designated in the resolution levying the tax, and may not <br /> become effective for at least 30 days after the adoption of the <br /> resolution. A tax levied under this section applies to <br /> instruments that are executed on or after the effective date of <br /> the levy, except instruments executed on or after that date that <br /> convey an interest in real property pursuant to a recorded <br /> written contract made before the effective date. <br /> (i) Repeal. . A tax levied by this section may be <br /> repealed by a resolution adopted by the Dare County Poard of <br /> Commissioners. Repeal of a tax levied under this section shall <br /> become effective on the first day of a month and shall apply to <br />