Agenda - 01-10-1994 - Laserfiche WebLink

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68 SECTION 2 SHARE OF EXISTING COUNTY EXPENDITURES TO TOTAL LOCAL NONRESIDENTIAL USES Total C tv Expenditures - This figure represents the total county expenditures for the current fiscal year budget. This information may be obtained from the county's finance or budget office. Example - $51,497,�42 1 Pro r)orfi on of Nonresidential Value To Total Local Real Property Value-This figure is derived by dividing the co ty's nonresidential equalized real property value ($484,958,094 in our example) by total local equaliz real property value ($4,408,709,951 in our example). The resulting quotient indicates that 11% of the to local equalized real property value is nonresidential. Ref nem nt Coefficient -County expenditures are not allocated according to market values of residential and nonresidential properties. It is therefore wrong to assume that because 11% of the total equalized real rty value is nonresidential,that 11%of the county's total expenditures go to serve nonresidential deve-Zrpol ents. Generally speaking,residential developments place more demands on county services,and therefor , cost the county more than nonresidential developments It is best that the analyst contact departm nt heads and review individuals budgets and expenditures for direct service to nonresidential develop ent Based on input from the Orange County Department Heads and a study measuring indirect costs A- ost Allocation Plan For Orange County, North Caro David M. Griffith&Associates, 1992), the refil went coefficient was set at 28%. This means that 28%of the 11%nonresidential market value actually s to serve nonresidential developments. I Total Ex�-W County E=enditures Attributable To Nonresidential Uses -This figure is the product of j - the abov three figures(($51,497,942 x.11)x.28),or$1,586,137. This figure represents the total existing county e�:ZuWres attributable to nonresidential uses. ounty SECTION 3 FUTURE TOTAL COUNTY OPERATING COSTS INDUCED BY THE PROPOSED DEVELOPMENT Total E me County Expenditures Attributable to Nonresidential Uses - See above. This figure is $1,586,1 7 in our example. Pro t)ortion of Facilitv to Total Local Nonresidential Real Proverty Value-This figure is derived by dividing the real roperty market value of the proposed development ($1,945,105 in our example) by the total real j nornwir ntial real property value ($484,958,094 in our example). This results in a quotient of .004 indicati that the market value of this development is.004 of the total nonresidential real property value. Countv Costs to Proposed Development-This figure is the product of the two figures above ($1,586,137 x .004 $6,345). This gives the total county expenditures allocated to the future nonresidential development.