Laserfiche WebLink
NORTH CAROLINA <br /> <br />CABARRUS COUNTY <br /> <br /> RESOLUTION OF THE BOARD OF <br />COUNTY COMMISSIONERS OF CABARRUS COUNTY <br />SUPPORTING THE REPEAL OF AUTHORITY TO TAX <br /> INTANGIBLE PERSONAL PROPERTY <br /> <br />WHEREAS, in recent years, the State of North Carolina has <br />eliminated its taxation of intangible property; and <br /> <br /> WHEREAS, the valuation of intangible personal property, <br />including patents, trademarks, copyrights, licenses and similar <br />property interests is both inherently complex and subject to a <br />broad range of purely subjective criteria; and <br /> <br /> WHEREAS, the assessment of ad valorem taxation upon intangible <br />personal property is incapable of consistent application across all <br />local taxpayers; and <br /> <br /> WHEREAS, Cabarrus County has never assessed an ad valorem tax <br />upon intangible personal property separate and apart from the <br />related real property; <br /> <br /> NOW, THEREFORE, the Board of Commissioners of Cabarrus County <br />does hereby determine and resolve that Cabarrus County shall not <br />initiate or attempt to initiate the valuation, assessment or <br />taxation of intangible personal property and does hereby signify <br />its support of legislation, clarifying that such property interests <br />shall be and remain exempt from ad valorem taxation. <br /> <br /> Meeting in open session, this the day of March, 1997. <br /> <br />CABARRUS COUNTY BOARD OF COMMISSIONERS <br /> <br />ATTEST: <br /> <br />By: <br /> <br />Chairperson <br /> <br />Clerk <br /> <br /> <br />