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Agenda - 12/11/2008 - 4f
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Agenda - 12/11/2008 - 4f
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Last modified
12/9/2008 3:06:07 PM
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12/9/2008 3:06:07 PM
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BOCC
Date
12/11/2008
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
4f
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Minutes - 20081211
(Linked From)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2008
RES-2008-096 Applications for Property Tax Exemption/Exclusion
(Linked From)
Path:
\Board of County Commissioners\Resolutions\2000-2009\2008
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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: December 11, 2008 <br />Action Agenda <br />Item No. 4 - <br />SUBJECT: Applications for Property Tax Exemption/Exclusion <br />DEPARTMENT: Assessor PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />INFORMATION CONTACT: <br />John Smith. 245-2101 <br />Exempt Status Resolution <br />Spreadsheet <br />Request for Exemption/Exclusion <br />PURPOSE: To consider three (3) untimely applications for exemption/exclusion from ad <br />valorem taxation for the 2008 tax year. <br />BACKGROUND: North Carolina General Statutes state that applications for exemption must be <br />filed during the normal listing period, which is during the month of January. NCGS 105- <br />282.1(x)(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 under <br />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 />These applicants are applying for homestead exclusion based on NCGS 105-277.1, which <br />allows exclusion of the greater of twenty-five thousand dollars ($25,000) or fifty percent (50%) of <br />the appraised value of the residence. Based on the information supplied in the current <br />application and the above referenced general statutes, the applicants can be approved for 2008. <br />The opinion of the Assessor is that the information provided to date satisfies the good cause <br />requirement of NCGS 105-282.1(x)(5) and that these properties should be approved for <br />exclusion. <br />There are currently 892 parcels receiving benefit of the homestead exclusion. With the approval <br />of these homestead applications, there will be 895 parcels receiving a homestead exclusion for <br />the 2008 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 $1,228.31. For FY 2008/2009, the total net reduction in <br />revenue for late homestead exclusions is $16,549.63. <br />RECOMMENDATION: The Manager recommends the above listed applications for 2008 <br />exemption be approved. <br />
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