Agenda - 11-13-2012 - 3 - Laserfiche WebLink

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3 represents 100 parcels and $36,003,769 of real property value. When vehicles and personal property values are added to the real property total, an estimated $37,673,414 of taxable value would be removed from the existing South Orange Fire Insurance District. Attachment D shows the existing property valuation of $556,977,528 for the South Orange Fire Insurance District, the reduction of $37,673,414 of taxable value, and the remaining property valuation of $519,304,114. The estimated tax valuation reduction from the existing South Orange Fire Insurance District equals 6.8% of the total. A fire district tax increase of .6 cents, from 7.85 cents to 8.45 cents, would be required to insure that this change is revenue neutral for the Town of Carrboro. North Chatham Fire Service District Orange County has received a letter from North Chatham Volunteer Fire Department (Attachment E) indicating that the Department will charge a tax rate of 8.8 cents beginning July 1, 2013. This is the same rate currently charged in Chatham County and a 76% increase over the existing 5 cents. Attachment F is a map of the existing North Chatham Fire Insurance District. Included on Attachment B, in yellow, are 112 homeowners located more than six (6) road miles from the nearest North Chatham Station, but less than three (3) road miles from Chapel Hill Fire Station #5. These homeowners have an insurance rating of 10 (see Attachment G for an example of insurance premiums related to fire insurance ratings). Several homeowners in this area have indicated that they cannot get fire insurance or that the rate has doubled. The only logical Fire Department that could provide fire protection for this area is the Town of Chapel Hill. The Town of Chapel Hill is a municipal fire department which relies on hydrants as its water source to fight fires. The Town of Chapel Hill is better positioned and willing to provide fire protections for this area. Discussions have occurred involving the Town of Chapel Hill Fire Chief and North Chatham Fire Department Chief concerning possible fire and insurance solutions for this area. Attachment H is a map of the existing Greater Chapel Hill Fire Insurance District. Attachment I is a map of the proposed new Greater Chapel Hill Fire Insurance District that includes not only the area proposed to be deleted from South Orange, but also the 112 homeowners from Attachment B and additional property included in the Southern Triangle Fire District that have hydrants. The Town of Chapel Hill staff is prepared to make this recommendation to the Chapel Hill Town Council, and the North Chatham Fire Chief has indicated a plan to make this recommendation to the North Chatham Board of Directors. Attachment J shows a potential new Chapel Hill Fire Service District which includes hydrants. Attachment K is a projection of property values and revenues for the New North Chatham Fire Insurance District. Attachment L is a map of the proposed New North Chatham Fire Insurance District. With a property tax increase from 5 cents to 8.8 cents and a reduction of property covered by the district, the net impact for the new district is a revenue increase of $31,441 from $213,325 to $244,766. Greater Chapel Hill Fire Service District Attachment M is a projection of property values and revenues for the New Greater Chapel Hill Fire Insurance District.