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Agenda - 09-02-2008 - 4d
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Agenda - 09-02-2008 - 4d
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Last modified
9/11/2008 9:56:01 AM
Creation date
9/11/2008 9:56:00 AM
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BOCC
Date
9/2/2008
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
4d
Document Relationships
Minutes - 20080902
(Linked From)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2008
RES-2008-063 Property Tax Exemption Exclusion
(Linked From)
Path:
\Board of County Commissioners\Resolutions\2000-2009\2008
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1 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: September 2, 2008 <br />Action Age a <br />Item No. <br />SUBJECT: Application for Property Tax Exemption/Exclusion <br />DEPARTMENT: Assessor PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): INFORMATION CONTACT: <br />John Smith, 245-2101 <br />Exempt Status Resolution <br />Spreadsheet <br />Request for Exemption/Exclusion <br />PURPOSE: To consider a resolution for one (1) untimely application for exemption/exclusion <br />from ad valorem taxation for the 2008 tax year. <br />BACKGROUND: North Carolina General Statutes state that applications for exemption must <br />be filed during the normal listing period, which is during the month of January. NCGS 105- <br />282.1(a)(5) does allow some discretion. Upon a showing of good cause by the applicant for <br />failure to make a timely application, an application for exemption or exclusion filed after the <br />close of the listing period may be approved by the Department of Revenue, the board of <br />equalization and review, the board of county commissioners, or the governing body of a <br />municipality, as appropriate. An untimely application for exemption or exclusion approved <br />under this subdivision applies only to property taxes levied by the county or municipality in the <br />calendar year in which the untimely application is filed. <br />This applicant is applying for homestead exclusion based on NCGS 105-277.1, which allows <br />exclusion of the greater of twenty-five thousand dollars ($25,000) or fifty percent (50%) of the <br />appraised value of the residence. Based on the information supplied in the current application <br />and the above referenced general statutes, the applicants can be approved for 2008. The <br />opinion of the Assessor is that the information provided to date satisfies the good cause <br />requirement of NCGS 105-282.1(a)(5) and that this property should be approved for exclusion. <br />There are currently 1,962 parcels totally exempt from taxation. Additionally, with the approval of <br />this homestead application, there are 893 parcels receiving a homestead exclusion for the 2008 <br />tax year. <br />FINANCIAL IMPACT: The reduction in the County's tax base associated with approval of these <br />exemption applications will result in a reduction of 2008 taxes due to the County, municipalities, <br />and special districts in the amount of $227.44. For fiscal year 2008-2009, the total net <br />reduction in revenue for late homestead exclusions is $227.44. <br />RECOMMENDATION: The Manager recommends that the Board approve the resolution for the <br />above listed application for 2008 exemption. <br />
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