Agenda - 03-23-2015 - Agenda - Laserfiche WebLink

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b) Restore the film and historic preservation tax credits c) Maintain grant funding for rural infrastructure projects • The change to North Carolina's economic development model that established a public /private partnership to over- see business recruitment and retention did not define the specific county role in economic development or coordina- tion needed for integrating local efforts within the new state model. • State tax reform efforts have eliminated targeted tax incen- tives to specific industries and rural areas, and budget reform efforts have discontinued targeted revenue streams to sup- port public infrastructure and have substituted lesser state appropriations to fund infrastructure grants. TF -3: Oppose legislation that erodes the existing local rev- enue base. • Counties rely heavily on property taxes to fund federal and state mandated services, with property taxes making up on average 50% of county revenues. • There are legislative attempts each session to create or ex- pand property tax exemptions or exclusions, such as expan- sion of the elderly homestead exemption by raising the in- come eligibility threshold. TF -4: Seek legislation to authorize local option revenue sources already given to any other jurisdiction. • Several counties and municipalities have been granted in- dividual legislative authority to levy special taxes, e.g. pre- pared meals sales taxes, land transfer fees on real estate transactions, impact fees on new development, and occu- pancy sales taxes on room and lodging rentals.