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December 10, 1997 <br /> <br />ICASAI~RUS COUNt] <br /> <br />MEMORANDUM <br /> <br />TO: Cabarrus County Board of Commissioners <br />FR~ M~ v~::nrykHWo 'mCe ljt~ i~ '~i'i mC;i: tnYR eM afeii~il m~ <br /> <br />Per your instructions at the December 4th meeting, the following is attached: <br /> <br />Original Resolution Draft and Cover Memo (dated December 1) related to the financial <br />impacts. <br /> <br />Summary - <br />Property Tax Relief for Elderly and Permanently Disabled - G.S. 105-277.1 <br />(Ranges $20,000 to $65,000 Exemption) <br /> <br />Bill Summary 1989 Session N. C. General Assembly <br />Proposal to Adjust Determination for Exemption <br /> <br />If the Board desires to set a property value exemption standard, the Summary of Exemption <br />Estimated Valuation and Revenue Loss numbers can be applied. However, any change to the <br />qualifying income level would produce results which cannot be determined locally with any <br />reasonable level of accuracy. <br /> <br />Since the proposed referendum is advisory in nature, the Board may want to be conservative in the <br />proposed adjustments. You may want to establish a proposal on value keyed to the average of <br />residential value adjustments due to revaluations and for income adjustments based upon some factor <br />related to the "aggregate household income" tied to an established standard. <br /> <br />Please advise if you have questions. <br /> <br />FWC/sb <br /> <br />Attachments <br /> <br /> Office of the County Manager <br /> <br />P 0 Box 707 ,, Concord, NC 28026-0707 ,* (704) 788-8100 · Charlotte 375-0829 <br /> <br /> <br />