TITLE
Title
FISCAL YEAR 2015 - 2016 TAX COLLECTOR'S ANNUAL SETTLEMENT REPORT
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SPONSOR
Sponsor
Ben Chavis
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BACKGROUND
Background
In accordance with NCGS 105-373, after July 1 and before being charged with collecting taxes for the new fiscal year, the tax collector is required to make a report to the governing body, including a settlement for taxes levied in the preceding year.
Charges to the countywide levy were $329,175,279. The total amount collected for FY 2015-2016 ending June 30 was $326,175,279 or 99.09%. The total amount uncollected was $2,986,727.50 or 0.91%.
Tax types that make up the 99.09% overall collection rate include:
Guilford Countywide Real Property Tax - 99.06%
Guilford Countywide Individual Personal Property Tax - 84.85%
Guilford County Business Personal Property Tax - 99.39%
Guilford County Public Personal Property - 99.99%
Compared to FY 2014-2015 ending June 30, 2015, the collection rate for FY 2015-2016 increased 0.10% for real and non-RMV personal property.
Further analysis reveals:
$732,799.34 less revenue was collected from the 2015-2016 levy than 2014-2015 for Real Property tax.
$26,080.26 less revenue was collected from the 2015-2016 levy than 2014-2015 for Individual Personal Property tax.
$398,208.16 more revenue was collected from the 2015-2016 levy than 2014-2015 for Business Personal Property tax.
$793,886.82 more revenue was collected from the 2015-2016 levy than 2014-2015 for Public Personal Property tax.
As of June 30, for tax year 2015, there was one (1) bill with unpaid taxes totaling $1,775.54 under appeal to the State Property Tax Commission, and two (2) bills with unpaid taxes totaling $15,826.30 under appeal to the Board of Equalization & Review. In accordance with NCGS 105-378(d), "...the tax collector may not seek collection of taxes or enforcement of a tax lien resulting from the assessment until the appeal has been finally adjudicated."
Also, as of June 30, for the tax year 2015, there were balances totaling $42,664.34 under active bankruptcy. In accordance with Title 11, Chapter 3, Subchapter IV, Section 362 of the US Bankruptcy Code, better known as the automatic stay, the tax collector is barred from enforcement remedies until the stay is lifted by the bankruptcy court.
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BUDGET IMPACT
Budget Impact
NO ADDITIONAL COUNTY FUNDS REQUIRED
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REQUESTED ACTION
Requested Action
Accept and approve the fiscal year 2015 - 2016 Tax Collector's Annual Settlement Report.
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