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Preliminary estimates provided by the North Carolina Association of County Commissioners in <br />August 2007 suggest that based on historical patterns, Orange County could expect additional <br />annual sales tax revenue of roughly $3.0 million, or the equivalent of approximately 1.4 cents on <br />the anticipated 2008-09 fiscal year tax rate, with the voter-approved and Board-implemented <br />one-quarter cent additional sales tax. However, given the economic downturn currently being <br />experienced across the nation and evidenced in the County's recent lower than anticipated <br />sales tax collections, it is likely that $3 million is optimistic and not reflective of today's current <br />conditions. <br />RECOIVIMEfdDAT1ON(S): The Manager recommends that the Board schedule an opportunity <br />to receive public comments at the June 24, 2008 Regular Board Meeting on a potential <br />referendum on cone-quarter cent additional sales tax in Orange County. <br />