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+` , <br /> LAW OFFICES <br /> COLEMAN, GLEDHILL & HARGRAVE ALONZO BROWN COLEMAN,JR. <br /> A PROFESSIONAL CORPORATION GEOFFREY E.GLEDHILL <br /> C O N F I D E N T I A L DOUGLAS HARGRAVE <br /> 129 E.TRYON STREET' <br /> P.O.DRAWER 1529 KIM K.STEFFAN <br /> HILLSBOROUGH,NORTH CAROLINA 27278 Attorney-Client Privilege JANET B.DUTTON <br /> (919)732-2196 DOUGLAS P.THOREN <br /> FAX(919)732.7997 SAMUEL ELY COLEMAN <br /> March 2, 1995 <br /> Moses Carey, Jr. , Chair <br /> Bill Crowther <br /> Alice Gordon <br /> Stephen Halkiotis <br /> Don Willhoit <br /> Orange County Board of Commissioners <br /> Post Office Box 8181 <br /> Hillsborough, North Carolina 27278 <br /> RE: Tax Refund Request - Chapel Hill Hotel Associates, <br /> Ltd. <br /> Dear Board Members: <br /> This letter is intended to supplement the action agenda item <br /> abstract concerning the tax refund/release request of Chapel Hill <br /> Hotel Associates, Ltd. This refund/release request is a decision <br /> item for your March 8, 1995 meeting. <br /> Under the so-called "Machinery Act, " the law which provides <br /> for the listing, appraisal and assessment of property and <br /> collection of taxes on ,property, there are three opportunities <br /> each calendar year for local administrative decisions changing <br /> the appraised value of property for that year. The Tax Assessor <br /> has the power, for good cause, to change the appraisal of any <br /> property subject to assessment. This power must be exercised by <br /> the Tax Assessor prior to the first meeting of the County Board <br /> of Equalization and Review. N.C. Gen. Stat. S 105-296 (i) . The <br /> County Board of Equalization and Review, during the time that it <br /> meets each year, has the power to increase or reduce the <br /> appraised value of any property that, in the Board's opinion, is <br /> listed and appraised at a figure that is below or above its real <br /> value in money according to the then adopted schedule of values . <br /> This power can be exercised by the Board of Equalization and <br /> Review on its own initiative, presumably as the result of some <br /> reason for a change in appraised value being brought to its <br /> attention by the Tax Assessor, or at the request of a taxpayer. <br /> N.C. Gen. Stat. 5 105-322 (g) (1) & (2) . After the County Board of <br /> Equalization and Review has adjourned, the Board of County <br /> Commissioners has the power to appraise or reappraise property <br /> when the Tax Assessor reports to the Board that, since <br />