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. CHCCS district tax proceeds replaced for 2005-06 with countywide funding <br />proceeds; district tax rate at zero <br />. Four year revaluation cycle continues, leading to lower required tax rates in later <br />years <br />^ Estimated Countywide tax rate increase of 17 cents per $100 assessed valuation <br />(lf Merger Had Occurred July 1, 2003) <br />Estimated Tax Bill Impacts Related to Merger <br />. CHCCS district tax assumed at zero as countywide tax increases by 17 cents <br />per $100 valuation <br />. Generally speaking, past-revaluation impacts of merger should be minor on tax <br />bills of properties in the CHCCS district that appreciate around assumed <br />average of 25°!° <br />. Examples of net increase in annual tax bills of properties of various taxable <br />values in the OCS district: <br />. $100,000 - $170 <br />. $200,000 - $340 <br />. $300,000 - $510 <br />. $400,000 - $680 <br />. Changes in individual property tax bills will be affected by actual changes in <br />property value as of January 1, 2005 revaluation <br />Other Potential Financial Implications <br />^ Affect an percentage of General Fund budget earmarked for education and <br />48.1% target <br />^ Future disposition of CHCCS district tax unresolved <br />^ Combined available building capacity could allow unused space to be filled <br />through student reassignment <br />^ With addition of new capacity already "in the works", further new school <br />opening timelines could be delayed beyond current 10 year CIP cycle <br />CHCCS Middle School Student Projections <br />Average Projection Model Only <br />Combined Middle School Student Projections <br />Average Protection Model Only <br />Other Approaches To Equalizing Funding <br />^ Countywide Supplemental Tax <br />^ Increase Countywide Ad Valorem Tax Rate <br />^ Financial implications essentially the same as for Countywide supplemental tax <br />^ Implementation of Orange County Schools Supplemental Tax <br />Hypothetical Countywide Supplemental Tax <br />^ Could be part of a merger plan, or an alternative thereto <br />^ BOCC may initiate, or may pursue in response to Board of Education-approved <br />petition <br />^ In either case, subject to affirmative vote in referendum <br />^ Proceeds distributed an per pupil basis <br />