HomeMy WebLinkAboutRES-2006-033 Opposing NC Senate bill 508 & House Bill 648 - "So-Called" Exempt Builder's Inventory~~S-~at~~ -~33
ORANGE COUNTY BOARD OF COMMISSIONERS ~ `~J °~
~6
Resolution Opposing
NC Senate Bill 508 and House Bill 648 - "So-Called" Exempt Builder's
Inventory
WHEREAS, County governments are responsible for delivery of basic
services to their citizens; and
WHEREAS, County governments are greatly dependent on a growing tax
base as the primary source of revenues which fund these basic services; and
WHEREAS, new subdivisions and new housing construction make up the
greatest bulk of growth to the tax base; and
WHEREAS, local governments make substantial investment that provides the
opportunity for the marketing of new subdivisions and for new housing
construction to occur; and
WHEREAS, the "so-called" exemption of builder's inventory would reduce the
growth in the tax base for counties, cities and towns statewide, and would
specifically reduce Orange County's tax base by potentially $150-200 million;
and
WHEREAS, properties that will potentially benefit from the "so-called"
exemption of builder's inventory will accrue increased value by escaping
property tax obligations; and
WHEREAS, the "so-called" exemption of builder's inventory will further increase
the already significant tax burden on individual homeowners; and
WHEREAS, the exemption of builder's inventory will make it even more
difficult for county governments to receive revenues necessary to the delivery
of basic services to their citizens;
NOW, THEREFORE BE IT RESOLVED that the Orange County Board of
Commissioners expresses its opposition to Senate Bill 508 and House Bill
648 - "so-called" "Exempt Builder's Inventory" bills -and any other similar
bills or legislation as being particularly erosive to the already eroded tax base
and urges members of Orange County's legislative delegation as well as
members of the General Assembly to oppose any efforts to exempt or to
exclude from taxation any property that might be construed to be builder's
inventory.
This the 18th day of April 2006.
Bar gJaco ~ y h it
Oran a Co ' nt Bo of Co missioners