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^ General Assembly has previously approved legislation permitting <br />implementation of a countywide tax without a referendum <br />Hypothetical Countywide Supplemental Tax <br />^ Major Assumptions: <br />. CHCCS district tax incrementally reduced to zero <br />. CHCCS "held harmless" by continued funding of $1,167 per pupil <br />. Tax base growth of 3°lo in non-revaluation nears, 25% in revaluation nears (2005, <br />2009, 2013} <br />. "revenue neutral" tax rate adjustments in revaluation nears lead to lower tax rates <br />in out years <br />. Student membership based on certified SAPFD projections <br />^ Estimated tax rate impacts <br />3 near scenario - 16.9 cents <br />5 near scenario - 16.5 cents <br />. 10 year scenario - 10.6 cents <br />Three Year Scenario to Achieve Equitable Funding with Countywide Tax <br />.Hypothetical ACS District Tax (Appendix P} <br />. Requires majority vote in referendum; maximum rate of 60 cents per $100 <br />valuation <br />. Would take effect fiscal year following vote <br />. Board of Commissioners may initiate election; must call far election if school <br />board petitions <br />. Would operate simultaneously with CHCCS district tax; assumes CHCCS is <br />"held harmless"; BCfCC establishes tax rate annually <br />. One cent on an C7CS district tax would generate less than one cent on CHCCS <br />district tax <br />. Estimated 2003-04 tax rate needed to generate $1,167 per pupil would have <br />been 22.4 cents <br />Hypothetical Tax Rates Necessary to Provide Equal Per Pupil Funding from CHCCS <br />and Possible UCS District Taxes <br />Frequently Asked Questions <br />^ Q: Why are the tax rate impacts cited in the staff analysis smaller over longer periods <br />of time? <br />^ A: Because of the impacts of revaluation. In fhe year after a revaluation, one <br />cent on the tax rate produces significantly more than it did the year before. The <br />BOGG uses a "revenue neutral" fax rate after revaluation. 1Nhen the tax base <br />goes up, fhe tax rate goes down, fo bring in the same amount of revenue. <br />Orange County conducts revaluations of all real property every four years. <br />There are scheduled revaluations in 2005, 2009, and 2013. <br />Frequently Asked Questions <br />^ Q: Haw would merger affect my tax bill? <br />