Orange County NC Website
Browse       Search
2 <br />insolvency is not a release. The tax claim .is not discharged or written ofF. The reason for <br />making the determination is solely to fiacilitate making annual settlement with the tax collector. <br />It relieves the tax collector for personal liability. Insolvent accounts are recharged to the <br />collector as delinquent accounts, and the collector has full authority to use levy and <br />garnishment to effect their collection. Included in the printed material is the first page of each of <br />these reports. Also provided are two diskettes containing a complete accounting of each list. <br />There are two settlement reports. The first settlement report shows all taxes charged for <br />collection for 1999-2000 fiscal year. The tax collector is credited with all sums representing <br />taxes collected and deposited, the principal amount of unpaid taxes on real property, and the <br />principal amount of unpaid taxes on personal property determined to be insolvent. All <br />uncollected, taxes allowed as credits in a settlement are recharged to the tax collector. The <br />second settlement repork shows all prior years' taxes collected with the 1999-2000 fiscal year. <br />FINANCIAL IMPACT: There is no direct financial impact associated with the Board's receipt <br />and approval of the tax collectors annual settlement. However, the report is highly significant in <br />that it documents the status of the County's single most important revenue source and reflects <br />in a very favorable light the County's strong financial position. <br />RECOMMENDATION(S): The Manager recommends that the tax collectors settlement be <br />accepted as reported and entered upon the minutes. <br />