Agenda - 12-10-2024; 8-e - Refund of Overpayment of Excise Tax to Bagwell Holt Smith, P.A.

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1 ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: December 10, 2024 Action Agenda Item No. 8-e SUBJECT: Refund of Overpayment of Excise Tax to Bagwell Holt Smith, P.A. DEPARTMENT: Register of Deeds ATTACHMENT(S): INFORMATION CONTACT: Refund Request Letter from Bagwell Holt Amy McLamb, 919-245-2677 Smith, P.A. Mark Chilton, 919-245-2679 Recorded Corrective Affidavit Recorded Deed and Receipt Related North Carolina General Statutes PURPOSE: To approve a refund request for overpayment of excise tax in the amount of $400 from Bagwell Holt Smith, P.A. BACKGROUND: North Carolina General Statute 105-228.37 sets forth the process for requesting a refund of overpayment of excise tax. The statute states a taxpayer who pays more than is due may request a refund by submitting a written request for a refund to the Board of County Commisioners of the county where the tax was paid, and must explain why the taxpayer believes a refund is due. On July 29, 2024, Bagwell Holt Smith, P.A. submitted a Deed for electronic recording stating the amount of excise tax due as $800, which was collected at the time of recording. On October 31, 2024, Bagwell Holt Smith, P.A. recorded a corrective Affidavit stating the amount of $800 in excise tax was incorrect, and it should have been $400. Bagwell Holt Smith has submitted the attached written request for a refund of $400 for overpayment of excise tax. FINANCIAL IMPACT: Bagwell Holt Smith P.A. is requesting a $400 refund for overpayment of excise tax. ALIGNMENT WITH STRATEGIC PLAN: There are no Orange County Strategic Plan Goals applicable to this item. RECOMMENDATION(S): The Manager recommends that the Board approve the refund of $400 in overpayment of excise tax to Bagwell Holt Smith, P.A.