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Budget Amendment - Motor Vehicle Tax Collection Fees
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INFORMATION CONTACT:
Blake Hart, Budget Management, Director, 704-283-3674
ACTION REQUESTED:
Adopt budget amendment #31 to recognize and appropriate additional revenue in Tax Administration.
PRIOR BOARD ACTIONS:
None.
BACKGROUND:
The Tax Office collects tax payments for several local municipalities, in return the towns pay a collection fee to the county for this service. The County recently began providing this service for the town of Weddington, resulting in additional revenue to the county. This budget amendment will recognize $175,000 in additional revenue and allocate it to offset expenses owed by the county to the state for the collection of motor vehicle tax through the NC DMV.
FINANCIAL IMPACT: