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644 <br /> WHERETOMMAY <br /> CORPORATION <br /> May 22, 1981 <br /> Orange County Board of Commissioners <br /> c/o Bill Laws <br /> 208 South Cameron Street <br /> Hillsborough, NC 27278 <br /> Gentlemen: <br /> I am writing this letter to clarify the problem which exists <br /> with our 1980 property tax. The appraised value of $530,300 <br /> being used to calculate the tax, in our opinion, is grossly <br /> overstated. <br /> Therma-Tray is in the business of leasing trays and equipment <br /> for meal distribution systems. In your county, we have a lease <br /> with North Carolina Memorial Hospital, for a monthly lease <br /> charge of $3,122.58. Per my conversation with Donna Smith, she <br /> informed me that North Carolina Memorial Hospital has submitted <br /> to your office a monthly lease figure of $5,303.00. I have <br /> enclosed a copy of the awarded bid from North Carolina Memorial <br /> Hospital in order to explain the difference in the monthly <br /> lease figure. The yearly amount of $63,637.02 (63,637.02 <br /> divided by 12 months = $5,303.00) represents leased equipment <br /> and trays (37,470.90 divided by 12 months = $3, 122.58) and <br /> sales of disposable dishes (26,166.12 divided by 12 months = <br /> $2,180.52) . <br /> The valuation for tax purposes, in our opinion, should just be <br /> based on the equipment and trays that we lese to North Caro- <br /> lina Memorial. Hospital, and not on saleable items. The monthly <br /> lease charge to be used, therefore $3,122.58, The <br /> cost of the equipment and trays at their premises amounts to <br /> $32,682.14. <br /> Based on the above figures presented in this letter, I request <br /> a reduction in the appraised value of our property and also a <br /> reduction in the tax. I am awaiting your response to this let- <br /> ter so that Therma-Tray may settle our liability with Orange <br /> County. <br /> Sincerely, <br /> THERMA-TRAY CORPORATION <br /> Aaron Sacharov <br /> Controller <br /> AS:lr 801 Montrose Avenue,South Plainfield,New Jersey 07050/C201)561-8111 <br />