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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: October 1, 2024 <br /> Action Agenda <br /> Item No. 8-c <br /> SUBJECT: Property Tax Releases/Refunds <br /> DEPARTMENT: Tax Administration <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Resolution Nancy Freeman, Tax Administrator, <br /> Release/Refund Data Spreadsheet (919) 245-2735 <br /> PURPOSE: To consider adoption of a resolution to release property tax values for sixteen (16) <br /> taxpayers with a total of eighteen (18) bills that will result in a reduction of revenue. <br /> BACKGROUND: The Tax Administration Office has received sixteen (16) taxpayer requests for <br /> release or refund of property taxes. North Carolina General Statute 105-381(b), "Action of <br /> Governing Body", provides that "upon receiving a taxpayer's written statement of defense and <br /> request for release or refund, the governing body of the Taxing Unit shall, within 90 days after <br /> receipt of such a request, determine whether the taxpayer has a valid defense to the tax imposed <br /> or any part thereof and shall either release or refund that portion of the amount that is determined <br /> to be in excess of the correct liability or notify the taxpayer in writing that no release or refund will <br /> be made". North Carolina law allows the Board to approve property tax refunds for the current <br /> and four previous fiscal years. <br /> FINANCIAL IMPACT: Approval of this change will result in a net reduction in revenue of <br /> $29,776.88 to Orange County, municipalities, and special districts. Financial impact year to date <br /> for FY 2024-2025 is $46,219.79. The Tax Assessor recognized that refunds could impact the <br /> budget and accounted for these in the annual budget projections. <br /> ALIGNMENT WITH STRATEGIC PLAN: There are no Orange County Strategic Plan Goals <br /> applicable to this item. <br /> RECOMMENDATION(S): The Manager recommends that the Board approve the attached <br /> resolution approving these property tax release/refund requests in accordance with North Carolina <br /> General Statute 105-381. <br />