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51 <br /> AGENDA ATTACHMENT 12 A 5 <br /> REQUEST FOR TAX RELEASE <br /> (Continued from August 18, 1981 Meeting) <br /> Kappa Alpha Order <br /> (Upsilon Chapter of Kappa Alpha Order) <br /> 110 West Cameron Avenue <br /> Chapel Hill, N. C. 27514 <br /> Chapel Hill Township, Account #44475 (1979, 1980) <br /> The personal property of the local chapter of this fraternity was <br /> discovered for taxation in 1979 for the years 1974 through 1979 at a <br /> valuation of $15,200 (approximately 2QA of the valuation of the <br /> fraternity house) for each year. For 1980 the chapter's personal <br /> property was discovered at a valuation of $30,400 (approximately 4a% <br /> of the tax valuation of the house. <br /> The chapter now (letter of April 7, 1981) maintains that this <br /> personalty has a value of $2,000 and'at no time has had a valuation <br /> in excess of $4,000.. <br /> Recommendation: <br /> Based upon a physical inspection of the chapter's personal property <br /> and in the interest of uniform assessment it is recommended that the <br /> valuation of this personalty be reduced to $3,790 (5A of the tax valuation <br /> of the fraternity house) for each of the years 1974 through 1980 and that <br /> the 1979 and 1980 bills be reduced accordingly. <br /> Order Date <br /> _ _ . <br />