Orange County NC Website
Browse       Search
4 <br />FINANCIAL IMPACT: There is no direct financial impact associated with this agenda item. The <br />cost of conducting the May referendum on local revenue options will essentially be limited to the <br />cost of printing and handling one additional ballot type, as all other May 2008 election expenses <br />would be incurred anyway and are addressed in the 2007-08 approved budget for the Board of <br />Elections. <br />Preliminary estimates provided by the North Carolina Association of County Commissioners <br />suggest that based on historical patterns, Orange County could expect additional annual sales <br />tax revenue of roughly $3.0 million, or annual proceeds of approximately $4.0 million from a .4 <br />percent land transfer tax, if approved by voters and implemented by the Board of <br />Commissioners. <br />RECOMMENDATION(S): The Manager recommends that the Board: <br />1. Receive and consider the report from the Local Revenue Options Education Advisory <br />Committee; <br />2. Receive the report from Dr. Hertzog regarding surveyed voter attitudes towards the local <br />revenue options; <br />3. Approve a resolution calling upon the Orange County Board of Elections to conduct a <br />May 6, 2008 advisory referendum on the question of whether to levy one revenue option <br />or the other as the subject of the referendum; and <br />4. Direct staff to prepare a resolution for formal adoption by the Board at the March 6, 2008 <br />meeting that reflects the Board's decisions at this February 19 meeting regarding the <br />intended uses of the proceeds from the prospective new revenue source.