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RTH CAROLINA ASSOCIATION OF COUNTY COMMISSIONERS <br /> <br /> MEMORANDUM <br /> <br /> TO: Board Chairmen <br /> <br /> FROM: C. Ronald Aycock, Executive Director <br /> <br /> DATE: December 30, 1987 <br /> <br /> SUBJECT: County Position on "Full Disclosure" Statements <br /> <br /> The Association of County Commissioners has been asked by the <br /> legislative Property Tax System Study Commission if counties would <br /> support legislation requiring the filing of a "full disclosure" <br /> statement on all real property transfers. A copy of the memorandum <br /> from Martha Harris, staff counsel for the study commission, is <br /> attached. This memorandum details the reasons for the request. <br /> <br />The 1987 School Facilities Finance Act requires the State Department <br />of Revenue to conduct an annual sales/assessment ratio study in the <br />100 counties. In order to do this effectively, the department will <br />need accurate and complete information on the true value of real <br />property transfers. <br /> <br />"Full disclosure" statement legislation would require buyers and <br />sellers to reveal the full value of all real property transactions <br />before the deed could be recorded. Our Association has supported such <br />legislation in the past. <br /> <br />We ask that you consider this question and let us know if your county <br />would support legislation requiring "full disclosure". You can fill <br />out the following brief questionnaire and return it to our office by <br />Friday, January 22. <br /> <br />As always, we appreciate your support. Please call me or Ed Regan if <br />you have any questions. <br /> <br /> SURVEY OF FULL DISCLOSURE STATEMENT <br /> <br />Would your county support legislation requiring a full disclosure <br />statement for all real property transfers? <br /> <br /> Yes No' <br /> <br />Comments: <br /> <br />County Signature <br /> <br /> <br />