TITLE
Title
PROPERTY TAX REBATES AND RELEASES FOR MONTH ENDING DECEMBER 31, 2021 AND BUDGET ADJUSTMENT FOR 2019-2020 PROPERTY TAX REFUNDS
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SPONSOR
Sponsor
Ben Chavis
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BACKGROUND
Background
A valid defense has been provided by the taxpayer that the tax imposed was invalid and met the criteria of North Carolina General Statute 105-381, to be rebated or released for the amounts contained in the attached reports. Complete reports are maintained on file with the Clerk to the Board.
This agenda item also allows for the required budget adjustment to process 2019-2020 property tax refunds in accordance with North Carolina General Statute 105-290.
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BUDGET IMPACT
Budget Impact
Budget Ordinance Amendment
General Fund
$429,157 Increase in Appropriation to Appropriated Fund Balance
$429,157 Increase in Appropriation to Tax
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REQUESTED ACTION
Requested Action
Accept and approve property tax rebates and releases for the month ending December 31, 2021 and approve associated Budget Amendment to increase $429,157 in Appropriated Fund Balance and increase the FY 2021-2022 Tax budget by the same amount towards payment of 2019-2020 property tax refunds
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