Title
Vote to adopt a resolution to approve an interlocal agreement for collection of ad valorem taxes for the Town of Apex
Abstract
Introduction & Background: The County collects the ad valorem (property) taxes for all municipalities within the County - including any fees that are also on the property tax bill. In order for the County to perform this service, the County has an interlocal agreement with each municipality.
Discussion & Analysis: The County collects the ad valorem (property) taxes for all municipalities within the County - including any fees that are also on the property tax bill. In order for the County to perform this service, the County has an interlocal agreement with each municipality. The County is updating these agreements to standardize all municipalities as well as to account for a 3-year phase-in to the total collection fee percentage. The collection percentages will be 0.5% of revenues collected in FY27, 1.0% in FY28, and 1.5% in FY29 where it will stay.
How does this relate to the Comprehensive Plan: n/a
Budgetary Impact: The revenue for ad valorem property tax collection is included in the FY2026-27 Annual Operating Budget
Recommendation/Motion: Motion to adopt a resolution to approve an interlocal agreement for collection of ad valorem taxes for the Town of Apex.