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93C <br /> 241 <br /> TAX RELEASE REQUEST <br /> BOARD OF COUNTY COMMISSIONERS <br /> DECEMBER 6, 1982 <br /> Rojo, Incorporated <br /> D/B/A Tarheel Car Wash <br /> This is a request that the 1982 valuation of car wash machinery <br /> and equipment listed with this account be reduced from $150,033 to <br /> $95,500 based upon the fact that Rojo, Incorporated erroneously <br /> listed the 1981 acquisition cost (from which the valuation is derived) <br /> of this property at $175,000, which figure actually represents the <br /> entire purchase price paid for the car wash business as a going <br /> concern and includes non—depreciable intangible assets, and based <br /> upon a March 2, 1981 appraisal of the same property at a fair market <br /> value of $95,500. <br /> This request comes from Mr. John A. Northen (of Northen, Little, <br /> and Bagwell) , representing Mr. and Mrs. Wade Degraffenreidt (owners <br /> of the corporation which sold the business to Rojo, Incorporated <br /> in June, 1981) who reacquired the property in February, 1982. <br /> RECOMMENDATION: Approve. <br /> _ . <br />