Agenda 12-12-23; 8-b - Property Tax Release-Refund

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1 ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: December 12, 2023 Action Agenda Item No. 8-b SUBJECT: Property Tax Release/Refund DEPARTMENT: Tax Administration ATTACHMENT(S): INFORMATION CONTACT: Resolution Nancy Freeman, Tax Administrator, Release/Refund Data Spreadsheet (919) 245-2735 PURPOSE: To consider adoption of a resolution to release property tax value for one (1)taxpayer with a total of one (1) bill that will result in a reduction of revenue. BACKGROUND: The Tax Administration Office has received one (1) taxpayer request for release or refund of property taxes. North Carolina General Statute 105-381(b), "Action of Governing Body" provides that "upon receiving a taxpayer's written statement of defense and request for release or refund, the governing body of the Taxing Unit shall within 90 days after receipt of such a request determine whether the taxpayer has a valid defense to the tax imposed or any part thereof and shall either release or refund that portion of the amount that is determined to be in excess of the correct liability or notify the taxpayer in writing that no release or refund will be made". North Carolina law allows the Board to approve property tax refunds for the current and four previous fiscal years. FINANCIAL IMPACT: Approval of this change will result in a net reduction in revenue of$28,899 to the County, municipalities, and special districts. The Tax Assessor recognized that refunds could impact the budget and accounted for these in the annual budget projections. SOCIAL JUSTICE IMPACT: There is no Orange County Social Justice Goal impact associated with this item. ENVIRONMENTAL IMPACT: There is no Orange County Environmental Responsibility Goal impact associated with this item. RECOMMENDATION(S): The Manager recommends that the Board approve the attached resolution approving this property tax release/refund request in accordance with North Carolina General Statute 105-381.