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Attachment 3 <br />0 <br />Efland Community Case Study <br />In the Efland Community area, there are roughly 350 parcels (+/- 10%) which <br />could be served by the existing Efland sewer system. These parcels have a total <br />area of approximately 300 acres and a valuation of approximately $40 million. <br />These parcels could be formed into a water and sewer district following the <br />procedures outlined in NCGS 162A 86-101. One possible water and sewer tax <br />scenario is given below. <br />Potential Water and Sewer Tax scenario in the Efland Community <br />- Assume 350 parcels in the "test" district <br />- Assume valuation of $40 million for the "test" district <br />- Assume 300 acres of land in the 350 parcels in the "test" district <br />- Use afive-cent water and sewer tax per $100 of property valuation <br />- Approximately $20,000 revenue generated per year to fund operation, <br />maintenance and/or debt service on water or sewer system. <br />- Average of $57 per parcel per year <br />- Average of $67 per acre per year <br />This is only one scenario and is based on an assumption of the size and <br />valuation of one potential water and sewer district. Before an actual district was <br />formed, a definite boundary and parcel count would be determined, along with <br />the corresponding valuation data. For comparison, the general fund allocation <br />that has been budgeted this 2010-2011 fiscal year to cover the Efland sewer <br />system's projected revenue shortfall is $95,000. <br />