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Village of Lake Park Interlocal Tax Billing and Collection Agreement
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INFORMATION CONTACT:
Vann Harrell, Tax Administrator, 704-283-3748
ACTION REQUESTED:
Authorize the County Manager to 1) execute an agreement substantially consistent with this agenda item, 2) exercise any renewal or extension term options set forth in the Agreement, and 3) terminate the Agreement if deemed in the best interest of the County, each in the County Manager's discretion
PRIOR BOARD ACTIONS:
None
BACKGROUND:
In 2008, the Union County Tax Administrator began billing and collecting taxes for various municipalities as authorized through the execution of interlocal agreements pursuant to NCGS 153-445(a)(1) and Article 20 of Chapter 160A. The Village of Lake Park is the latest jurisdiction to request this agreement with Union County.
The Village of Lake Park Council recently directed the Village Administrator to pursue this agreement with Union County for the upcoming tax billing cycle. The effective date of the agreement will be July 1, 2024. In accordance with this agreement, Union County will bill and collect property taxes and any currently assessed municipal fees on behalf of the Village of Lake Park. The collection of any new fees to be assessed in the future will be negotiated under the terms of this agreement. The benefit of this agreement is that it provides Union County residents who reside in the Village of Lake Park one point of contact for all transactions related to their property taxes and associated fees. Per the terms of the agreement, Union County will retain 1.25% of all revenues collected.
FINANCIAL IMPACT:
Estimated $10,000 in annual revenue.