Agenda - 05-30-2013 - 2 - Laserfiche WebLink

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Fire District Tax Rates - As outlined in the Fire Districts section of the recommended budget, the current tax rates for local fire districts range from 4.06 cents to 8.95 cents per $100 valuation. For the upcoming year, all of the Fire Districts, except Cedar Grove and Little River, are requesting an increase in their fire district tax rate. The requested increases range from .50 cents (New Hope) to 7.50 cents (Chapel Hill). Fire Districts' Reauests for FY 2013 -14 District Current 2012 -13 Tax Rate (in cents) Requested Tax Rate for 2013 -14 Requested Tax Rate Change 2013 -14 1 Cent Equals 1/10 Cent Equals Cedar Grove 7.36 7.36 0.00 $ 27,249 $ 2,725 Chapel Hill 7.50 15.00 7.50 $ 18,743 $ 1,874 Damascus 5.00 8.80 3.80 $ 9,321 $ 932 Efland 4.66 7.00 2.34 $ 67,059 $ 6,706 Eno 5.99 7.99 2.00 $ 71,078 $ 71108 Little River 4.06 4.06 0.00 $ 42,044 $ 4,204 New Hope 8.95 9.45 0.50 $ 56,638 $ 5,664 Orange Grove 5.00 6.00 1.00 $ 75,215 $ 7,522 Orange Rural 5.61 7.36 1.75 $ 126,049 $ 12,605 South Orange 7.85 10.00 2.15 $ 50,372 $ 5,037 Southern Triangle 5.00 8.80 3.80 $ 18,634 $ 1,863 White Cross 7.00 8.80 1.80 $ 36,179 $ 3,618 Revenue Highlights Property Tax Revenue - Property taxes (real and motor vehicles) make up approximately $137.8 million, or 75 %, of the recommended General Fund revenue base of approximately $182.5 million. This equates to a $2.7 million increase from the current year budget of $135.1 million and is reflective of natural growth in the tax base. Sales Tax Revenue - The fiscal outlook anticipates consumer spending will increase 2 to 3 percent in FY 2013- 14.Based on current year projections and the anticipated increase in consumer spending, the FY 2013 -14 budget estimates sales tax revenues for Articles 39, 40 and 42 at $1.5 million more than the FY 2012 -13 budget. The county's share of local sales tax revenues are expected to be $17.2 million. Charges for Services, Licenses and Permits - Construction and housing markets continue to recover slowly from the economic recession. Revenues from Register of Deeds fees are estimated at approximately $186,000 more than in FY2012 -13. Anticipated charges for services will be approximately $9.7 million. Intergovernmental Revenue - Included in this revenue category are funds the County expects to receive from state, federal and other local governments. The Federal Sequestration and State's budgetary issues continue and will continue to have adverse impacts on our budget. Expected reductions in Federal and State revenues include the transfer of the subsidy for childcare of approximately $2.5 million to the state for FY 2013 -14 due the State's decision to administer the program directly. We have budgeted revenues for maintaining this program for one quarter in this 3