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1 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: December 14, 2004 <br />Action Agenda <br />Item No. .5 - ~~ <br />SUBJECT: <br />Tax Release <br />DEPARTMENT: Assessor's Office <br />PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Jahn Smith, ext. 2101 <br />Resolution <br />Spreadsheet <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To consider adoption of a resolution to release property value related to one (1) <br />request for property tax release. <br />BACKGROUND: The Assessor's Office is requesting approval to release property value <br />related to one (1) request far property tax release. (See explanation on attached spreadsheet.) <br />General Statute 105-381(b), "Action of Governing Body', provides that "upon receiving a <br />taxpayer's written statement of defense and request for release or refund, the governing body of <br />the Taxing Unit shall within 90 days after receipt of such a request determine whether the <br />taxpayer has a valid defense to the tax imposed or any part thereof and shall either release or <br />refund that portion of the amount that is determined to be in excess of the correct liability or <br />notify the taxpayer in writing that no release or refund will be made". North Carolina law allows <br />the Board to approve property tax releases for the current and four previous fiscal years. <br />FINANCIAL IMPACT: Approval of this change will result in a net reduction in revenue of <br />$956.06 to the County, municipalities, and special districts. <br />RECOMMENDATION(S): The Manager recommends that the Board approve the attached <br />resolution approving one (1) property tax release request in accordance with N.C. General <br />Statute 105-381. <br />