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29 <br />Other Date: <br />County Government Tax Rate: The County tax rate per $100 of assessed valuation. Since <br />the per capita method focuses only on operating expenditures, the tax rate is reduced by an <br />amount equal to the debt service payments from property taxes for capital projects. <br />School District Tax Rage: The supplementary tax assessed on behalf of the Chapel <br />Hill- Carrbom school system. <br />Assessment Ratio: The ratio of market (sales) value to assessed value based on <br />information supplied by the Tax Office. The assessment ratio is used to convert market value <br />to assessed value for the purpose of computing the *tax base. <br />Other Model Constants <br />Elderly Exemption: For projects developed partially or exclusively for elderly (65. and older) <br />or disabled individuals whose annual income does not exceed $12,000, an $11,000 tax <br />exemption is used in projecting the tax base. <br />School District Employees Per Student: The number of employees per ' student in a <br />specific school district <br />SECTION 3 - DEMOGRAPHIC PROJECTIONS BASED ON PROJECT DATA <br />Demographic projections provide information about the number of new residents and school <br />children anticipated in Orange County resulting from project development Projections also <br />provide the number of additional employees required per service function and school district <br />as a result of the new development. <br />Total Housing Units: The cumulative total of new housing units added each year by project <br />development <br />Total Population: The total population added each year by a project derived by multiplying <br />the number of homes to be constructed by the number of persons per household (see <br />Section 1). <br />School Population: The -total number of school children added each year by a project <br />derived by multiplying the number of homes constructed by the number of children per <br />household (see Section 1). <br />Additional County Employees: The number of additional employees required per service <br />category based on project development. <br />Total: Total of all additional county employees required based on project development <br />