Orange County NC Website
Browse       Search
14 <br /> SECTION 3 - DEMOGRAPHIC PROJECTIONS BASED ON PROJECT DATA <br /> Demographic projections provide information about the number of new residents and school children <br /> anticipated in Orange County resulting from project development.Projections also provide the number of <br /> additional employees required per service function and school district as a result of the new development. <br /> Total Housing Units: The cumulative total of new housing units added each year by project <br /> development. <br /> Total Population: The total population added each year by a project derived by multiplying the number <br /> of homes to be constructed by the number of persons per household (see Section 1). <br /> School Population: The total number of school children added each year by a project derived by <br /> multiplying the number of homes constructed by the number of children per household (see Section 1). <br /> Additional County Employees: The number of additional employees required per service category <br /> based on project development. <br /> Total: Total of all additional county employees required based on project development. <br /> School District Additional Employees: The number of additional employees required per school <br /> district based on the project development. <br /> SECTION 4 - PROJECTED NET FISCAL IMPACT ON COUNTY <br /> Tax Base: The tax base represents the increase in assessed property value expected each year resulting <br /> from project development.The values shown are in$1,000's and are derived from a formula which includes <br /> the number and sales price of homes, and the assessment ratio. Where applicable, the percentage of <br /> non-elderly units and elderly exemption are also used. <br /> Revenues:All revenues are derived from a formula which multiplies the per capita revenues (Section 2) <br /> times the projected population (Section 3). The exception to this is the property tax which multiplies the <br /> tax base times the county government tax rate. <br /> Expenditures: All expenditures are derived from a formula which multiplies the per employee <br /> expenditure (Section 2) times the number of additional employees (Section 3). <br /> Net Fiscal Impact: The net balance is the difference between projected expenditures and <br /> projected revenues. A negative net balance indicates that it costs Orange County more to provide services <br /> to a project than it receives in revenues.A positive net balance indicates that more revenues are received <br /> than it costs to serve a project. Positive net balances in one project may thus be used to offset negative <br /> balances in another. <br />