Orange County NC Website
Browse       Search
of the plan, the revenue streams may not be active until April 1St instead of January 1St. The 23 <br />figures in Appendix G: Revenue reflect the partial first -year levy of both a % -cent sales tax and <br />a $10 vehicle registration fee increase. Over the life of the plan to 2035, the sales taxis <br />expected to generate approximately $163 million in Year -Of- Expenditure (YOE) dollars. This <br />tax can only be levied subsequent to a referendum by the Orange Board of County <br />Commissioners and approval by the voters. <br />Revenue from the % -cent sales tax identified in the Bus and Rail Investment Plan for Orange <br />County can be used for financing, constructing, operating and maintain local public <br />transportation systems. The funds can be used to supplement but not supplant or replace <br />existing funds or resources for public transit systems. <br />B. $7 Vehicle Registration Fee in Orange County <br />A seven dollar ($7) vehicle registration fee in Orange County means that when an individual <br />registers a new vehicle or renews the registration for an existing vehicle in Orange County, an <br />additional $7 per year is added to the cost above the other required registration fees for that <br />vehicle. <br />The seven dollar fee in Orange County is expected to bring in $782,000 in 2013 if <br />implemented for a full year. Discussions with the NC Dept of Revenue indicate that in the first <br />year of the plan, the revenue streams may not be active until April 1St instead of January 1st. <br />The figures in Appendix G: Revenue reflect the partial first -year levy of both a % -cent sales tax <br />and a $10 vehicle registration fee increase. Over the life of the plan to 2035, the seven dollar <br />fee is expected to generate $22.5 million in Year -Of- Expenditure (YOE) dollars. The <br />implementation agreement will articulate how this revenue can be utilized. <br />C. $3 Vehicle Registration Fee Increase for Triangle Transit in Orange County <br />A three dollar ($3) vehicle registration fee increase in Orange County means that when an <br />individual registers a new vehicle or renews the registration for an existing vehicle in Orange <br />County, an additional $3 per year is added to the cost above the other required registration <br />fees for that vehicle. An existing $5 fee for vehicle registration supports activities of Triangle <br />Transit, including bus operations and long -term planning. This fee would be increased to $8 <br />when the $3 increase is implemented. <br />The three dollar ($3) fee in Orange County is projected to generate $330,000 in 2013 if <br />implemented for a full year. Discussions with the NC Dept of Revenue indicate that in the first <br />year of the plan, the revenue streams may not be active until April 1St instead of January 1St. <br />The figures in Appendix G: Revenue reflect the partial first -year levy of both a % -cent sales tax <br />and a $10 vehicle registration fee increase. Over the life of the plan to 2035, the three dollar <br />($3) fee is expected to generate $9.7 million in Year -of- Expenditure (YOE) dollars. The <br />implementation agreement will articulate how this revenue can be utilized. <br />D. Revenue from Triangle Transit's Rental Car Tax <br />5/23/2012 - Page 123 <br />