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'l~~S -aoa~-v ~ b''cL <br />~ b <br />ADOPTED 02/19/08 <br />ORANGE COUNTY BOARD OF COMMISSIONERS <br />A Resolution Regarding the Conduct of an Advisory Referendum on the Question of <br />Whether to Levy a Local Land Transfer Tax <br />WHEREAS, local governments in North Carolina have historically relied heavily on the ad valorem <br />property tax as their major source of revenue; and <br />WHEREAS, Orange County's reliance on the ad valorem property tax has increased steadily <br />during this decade to the point that more than 69 percent of the County's revenue as anticipated in <br />the adopted 2007-08 Orange County Budget Ordinance derives from this source; and <br />WHEREAS, for a number of years, the Orange County Board of County Commissioners, the North <br />Carolina Association of County Commissioners and many other Boards across the state have <br />lobbied the North Carolina General Assembly for legislative authority to expand counties' revenue <br />options and thereby to lessen counties' reliance on ad valorem property taxes; and <br />WHEREAS, during the 2007 legislative session, the General Assembly granted counties the <br />authority to enact new local revenue options - either a land transfer tax of up to .4% or an <br />additional'/<-cent sales and use tax, but not both -subject to voter approval; and <br />WHEREAS, without an alternative revenue source, various unfunded school and County capital <br />needs will likely have to be delayed or funded through increases in ad valorem property tax rates; <br />and <br />WHEREAS, on September 19, 2007 the Orange County Board of County Commissioners decided <br />to seek voter approval of one or both local revenue options on the May 2008 ballot; and <br />WHEREAS, on February 5, 2008 the Orange County Board of Commissioners held a public <br />hearing to seek community input regarding the revenue options prospectively to be placed on the <br />May 2008 ballot; <br />NOW, THEREFORE, BE IT RESOLVED pursuant to N.C. Gen. Stat. § 105-601, the Board directs <br />the following advisory referendum to be held and, with the concurrence of the Orange County <br />Board of Elections, to be held on May 6, 2008: <br />[ ]FOR [)AGAINST <br />Real property transfer tax at the rate of up to [.4] percent [.4%] of value or consideration. <br />Upon motion of Commissioner' secon by Commissioner ,the <br />~... foregoing resolution was adopted this the day of lug , 2008. <br />_ - ~ I, Donna S. Baker, Clerk to the Board of Commissioners for the County of Orange, North <br />Carolina, DO HEREBY CERTIFY t at the foregoing is a true copy of so much of the proceedings of <br />said Board at a meeting held on - ~G tt-i-u 2~0 as relates in any way to the adoption of <br />the foregoing and that said proceedings are ecor ed in the Minute Book of the Board. <br />WITNESS my hand and the seal of said Coun this day of +'-LGca~~ , 2008. <br />®,~n~gs lro,~~,.s <br />( ~$~ ~, Cler to the Board of Commissioners <br />