Orange County NC Website
Browse       Search
• <br /> 5_ <br /> (3) Taxes authorized by this act may be collected pursuant to <br /> G.S. 153A-147 or G.S. 160A-207. In additions taxes authorized by <br /> this act may be recovered in a civil action in the nature of debt <br /> including an award of reasonable attorney fees as part of costs. <br /> Section 7. The governing body of the District, after consultation with <br /> Orange County and the Town of Carrboro and the Town of Chapel Hill, shall <br /> establish annually at the time of the adoption of the annual budget of <br /> Orange County the tax rate to be levied per square foot of dwelling space <br /> and per square foot of commercial building enclosed floor space for the <br /> ensuing fiscal year. Different tax rates may be established for different <br /> types of commercial construction. <br /> Section 8. As soon as reasonably practicable after the close of each <br /> quarter of the fiscal year, the District shall distribute to Chapel Hill <br /> and Carrboro 75% of the net proceeds of the tax received by the District <br /> based upon development that has taken place within each respective <br /> municipality's corporate limits, extra-territorial planning jurisdiction, <br /> and transition area(s), as established in joint planning agreements. The <br /> remainder of the net proceeds, alus the cost incurred b Orange Count inn <br /> collecting and administering the tax, shall be remitt orange Count <br /> • <br /> As used in this act, the term °net proceeds° means the gross proceeds of <br /> the tax less the cost to the county of collection and administering the <br /> tax. <br /> • <br /> Section 9. Whenever the sale of real property located in the District <br /> involves new construction, the seller shall prepare and sign, and the buyer <br /> shall receive and sign, a disclosure statement.- The disclosure statement <br /> shall either be included in a contract of sale or contained in a separate <br /> document executed 'rior to the execution of a sales contract. This <br /> disclosure statement shall fully and completely disclose that the owner of <br /> the property at the time an occupancy permit is issued for the new <br /> construction or, if no occupancy permit is issued, the date the new <br /> construction is occupied, may be subject to a tax levied by the District on <br /> the impact of land development. If a seller fails to make such a <br /> disclosure and the buyer suffers injury as a result of the seller's failure <br /> to disclose, the seller shall be liable to the buyer to the extent of <br /> buyer's injury. <br /> Section 10. Orange County may repeal an ordinance adopted pursuant to <br /> Sections 17-18.1 of Chapter 460 of the 1987 Sessions Laws. Orange County <br /> may not adopt an ordinance pursuant to Sections 17-18.1 of Chapter 460 of <br /> the 1987 Session Laws while an ordinance adopted pursuant to this act is in <br /> effect. Chapel Hill may repeal an ordinance adopted pursuant to Section 1 <br /> of Chapter 936 of the 1985 Session Laws. Chapel Hill may not adopt an <br /> ordinance pursuant to Section 1 of Chapter 936 of the 1985 Session Laws <br /> while an ordinance adopted pursuant to this act is in effect. Carrboro may <br /> repeal an ordinance adopted pursuant to Section 2 of Chapter 357 of the <br /> 1985 Session Laws. Carrboro may not adopt an ordinance pursuant to Section <br /> 2 of Chapter 357 of the 1985 Session Laws while an ordinance adopted <br /> pursuant to this act is in effect. <br /> • <br /> I ' <br />