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County Reporting to the North Carolina Department of Revenue

County Reporting to the North Carolina Department of Revenue. Michael S. Connolly, NC Department of Revenue. Would you rather …. Fold clothes everyday for a year, or …. Supervise a sleepover of 20 screaming 10 year old girls?. Would you rather …. Clean angry, large dogs teeth, or ….

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County Reporting to the North Carolina Department of Revenue

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  1. County Reporting to the North Carolina Department of Revenue Michael S. Connolly, NC Department of Revenue

  2. Would you rather …

  3. Fold clothes everyday for a year, or …

  4. Supervise a sleepover of 20 screaming 10 year old girls?

  5. Would you rather …

  6. Clean angry, large dogs teeth, or …

  7. Clean this bathroom?

  8. Would you rather …

  9. Have multiple teeth pulled, or …

  10. Fill out the TR-1 Report?

  11. Reports to the NCDOR • TR1 & TR2 • AV-50 & AV-50A • AV-8 Octennial Reappraisal • Discount Rates • Other Forms (Sales Ratio, Reappraisal Cycle)

  12. Why do we have to file with the DOR? Some forms are required by State Law. Some forms are used to determine distributions of local taxes that are collected by the NCDOR. Some forms are used to collect data used by other state agencies. Some forms collect data used by the General Assembly.

  13. TR-1& TR-2 Reports Annual County / Municipality Report of Values, Levies, Licenses & Other Taxes. Due Date – February 1st Each Year. Form Location – www.dornc.com/downloads/property.html#other How To Submit – Email Excel spreadsheet back to our office. Who can submit – Any fulltime employee can sign.

  14. TR-1 & TR-2 Instructions Page 2 (Instructions on what to do (add, subtract, total). Double check your math! PUV Section – Is just a break down of the deferred amounts. If your county/jurisdiction doesn’t collect a particular tax – just put a zero.

  15. TR-1 & TR-2 Instructions- cont. With unknowns – make educated guess without estimating (ex: breaking total real property into commercial, industrial, etc.) Any full time employee can sign the form – typically should be the one who filled out the form.

  16. TR-1 & TR-2 Registered Motor Vehicles Currently TR-1 & TR-2 requires RMV information. Starting in 2015, we are hoping to remove this from the forms and use VTS to gather this. By January, all counties should be done billing from old system.

  17. TR-1 & TR-2 So why care about any of this? TR-1 & TR-2 may be used for allocation of the majority of taxes collected by the NCDOR that are distributed back to your county/municipality.

  18. Confirmation of Disbursements Over 3 Billion tax dollars disbursed to counties from various taxes collected by the NCDOR. The Disbursements are based on a formula from Levies or Per Capita. Levy formula is based on data from the TR-1/TR-2. 47 Counties use Levy Method / Accounts for $1,000,000

  19. TR-1 & TR-2 Making changes after values have been finalized makes things very difficult for us. This requires us to take money away from one district to redistribute to another. Form is due in February – we hope to send preliminary in May/June with 20-30 Day letter.

  20. AV-50 & AV-50A Tracks Exemptions & Exclusions. Due November 1st each year. Form Location – Not on the web – emailed to the County around October each year. How To Submit – Email Excel spreadsheet back to our office. (Not in PDF Format) Who can submit – Statute states “The Assessor shall submit”.

  21. AV-50 & AV-50A Required by GS 105-282.1(d) States the Assessor is required to submit. 100% filled out by the county but contains Municipality Info as well.

  22. AV-8 Octennial Reappraisal Annual county report that tracks county’s reappraisal reserve. Due Date – Due 10 days after the adoption of the annual budget ordinance. Form Location – http://www.dornc.com/downloads/av8.pdf How To Submit – Mail or Fax back to the NCDOR Office. Who can submit – Finance or Budget Officer.

  23. AV-8 Octennial Reappraisal Required by Statute NCGS 153A-150 Main purpose is to track each county’s reappraisal. Form allows the NCDOR to validate that the counties are creating a budget reserve for their next reappraisal.

  24. Discount Rates % of Discount for paying your taxes early. To add/change % resolution must be submitted by May preceding the due date. Resolution once approved, stays in effect until appealed.

  25. Discount Rates

  26. Discount Rates

  27. Discount Rates

  28. Discount Rates

  29. Discount Rates

  30. Sales Ratio Study • Tracks Sales Data. - Equalization of PSC. • Due by Quarters. • Form Location – MS Access Database located on the web at: http://www.dornc.com/downloads/property.html • How To Submit – Email button on the database. • Who can submit – Anyone from the County

  31. Reappraisal Cycle All counties are on 8 year cycle per NCGS 105-286(a) If your county chooses to advance your cycle, your board of county commissioners must send a copy of this resolution. Based on this resolution, this is your new cycle, until a new resolution is submitted.

  32. Contact Information NC Department of Revenue Information Unit Supervisor Michael S. Connolly 919-814-1133 michael.connolly@dornc.com

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