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Union County board waives late-list penalty for ConMet after audit dispute
Summary
The Union County Board of Equalization Review voted to waive a late-list penalty of about $32,000 levied after an audit of ConMet's business personal property, after hearing that many cited items were longstanding building assets or 'ghost assets' the company said it believed were real property.
The Union County Board of Equalization Review on Nov. 21 voted to waive a late-list penalty assessed against ConMet (listed in the record as Consolidated Metco Inc.) after a county audit reclassified certain assets as business personal property.
Chairman (speaker 1) said the board had been asked only to consider the late-list penalty, not the underlying tax assessments, and gave the petitioner a chance to present. A company representative (speaker 5) described ConMet as a long-standing Monroe manufacturer of truck wheel ends that employs hundreds locally and said many of the assets cited in the audit dated to the 1980s and 1990s and had been treated as real property on the company's tax returns.
"There was no willful error. There was no intentional misstatement on our part," the company…
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