Agenda - 05-15-2014 - 1 - Laserfiche WebLink

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Comparison of Land Area To Property Valuation For Orange County NC Land Area of Coun Above. All towns in Orange County produce Orange County property taxes in addition to the property tax levy for their towns In order to better comprehend the potency of a town, within the County, the above chart demonstrates the area of township within the County charted against the amount of county property tax produc- tion. The valuation against the area consumed demonstrates a tax rev- enue ratio of 12:1 for Carrboro, 8.6 1 for Chapel Hill, and 5 1 for Hillsbor- ough. Though it should be noted that Chapel Hill maintains a considerable volume of non - taxable land within its area The Rest of The County Chapel Hill Carrboro Hillsborough ty Value of County as the standard. This also correlates with the taxable revenues to better understand the revenue productivity. Just as our evaluation of automobiles on a miles per gallon basis gives a more accurate assessment of the efficient vehicle's efficiency, evaluating land by the value per acre is an effective measure of municipal benefit. This idea of `land efficiency' is not a new concept, American farmers have long used this approach to consider their cost and crop yield per acre. Indeed, the agricultural industry has adopted technological methods of mapping values, such as mineral density in soil, to better understand distribution of fertilizers in an efficient manner. Urban3 uses similar technology to map the value per acre, to better envision the relative productivity of property taxes across the county. The Law of Gases: Pressure We know from Chemistry that the pressure of a gas depends on the volume of the gas and the space in which it is contained. We can think of property development in Chapel Hill along the same terms. In this analogy, Chapel Hill is the container for an ever increasing influx of new residents. As a cornerstone of the Research Triangle with ample employment opportunities and a remarkable level of public services, Chapel Hill will continue to attract new residents. Unlike many communities in the Southeast however, Chapel Hill has demonstrated considerable discipline with regards to its outward expansion. Chapel Hill's Rural Buffer serves as an effective urban growth boundary which can be clearly seen in the development pattern, property value, and vegetation coverage. The Chapel Hill container is effectively a fixed boundary. The result is a high level of development pressure which has manifested itself in the scale and pace of development as well as in the cost of living. 3