Minutes 09-22-2011 - Laserfiche WebLink

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• -County Schools Improvement • -Jobs Creation Economic Development Goals The proposed 1/4¢sa/es tax will help support schoo/s and jobs. It will not go to the General Fund. The proposed 1/4¢ sales tax will raise as much as $2.5 million in a year. If approved, the tax money will be equally split between education and economic development. 50% For Schoo/s: • Distributed Per Pupil to County and City Schools for Facility Improvement of Older Schools and the Purchase of Technology 50% For Schoo/s: • Will Not Replace the County's Endorsed Funding Target of 48.1% for the City and County School Systems • Will Be Added to the Current Budget • County Will Not Lower Its Planned Ratio of Spending on Schools • County Will Honor Its Budgeted Commitment to Schools 50% ForEconomic Development To Help Grow Business in Orange County • Create a Sustainable and Well-Managed Economic Development Plan • Attract and Expand Successful Business 50% ForEconomic Development To Help Grow Business in Orange County • Money for Job Creation, Entrepreneurs, Small Business Loans, Innovation Centers for New Businesses and Support for Agriculture Businesses • For Vital Infrastructure: Water, Sewer, Roadways and Broadband Who Pays? • The Proposed Sales Tax Would Apply to People Who Shop in Orange County Including Visitors, Tourists and Temporary Residents • A Significant Share Will Be Paid By People Who Do Not Live in the County • In 2010, Visitors Paid Nearly 20% of the Sales Tax in Orange County Who Pays? • Everyone Who Shops in Orange County — Diversifies the Tax Base — Shares the Tax Burden Carried by Homeowners Paying Property Taxes Why Now? • Because of Limited Commercial Retail Options and Business Sites, the Chief Way Orange County Can Raise Money for Important Public Services Including Education and Economic Development is Through Property Taxes Why 1/4¢ Sa/es Tax Now? • Can Raise as Much as $2.5 Million in a Year