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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: December 2, 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 four (4) <br /> taxpayers with a total of four (4) bills that will result in a reduction of revenue. <br /> BACKGROUND: The Tax Administration Office has received four taxpayer requests for release <br /> or refund of property taxes. North Carolina General Statute 105-381(b), "Action of Governing <br /> Body", provides that "upon receiving a taxpayer's written statement of defense and request for <br /> release or refund, the governing body of the Taxing Unit shall, within 90 days after receipt of such <br /> a request, determine whether the taxpayer has a valid defense to the tax imposed or any part <br /> thereof and shall either release or refund that portion of the amount that is determined to be in <br /> excess of the correct liability or notify the taxpayer in writing that no release or refund will be <br /> made". North Carolina law allows the Board to approve property tax refunds for the current and <br /> four previous fiscal years. <br /> FINANCIAL IMPACT: Approval of this change will result in a net reduction in revenue of <br /> $3,393.14 to Orange County, municipalities, and special districts. The financial impact year to <br /> date for FY 2024-2025 is $57,940.31. The Tax Assessor recognized that refunds could impact <br /> the 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 />