Orange County NC Website
Browse       Search
Created 4/12/07 ~- <br />Taxes <br />Goal Statement -Target future Countywide Ad Valorem property tax rate <br />increases at amounts required to pay debt service for non- <br />Enterprise Fund debt issuance plans. <br />Objectives <br />1) Examine current County financial policies for their viability and amend, if <br />needed, and develop/adopt new financial policies as deemed appropriate. <br />a) Current. Adopted Policies <br />i) Debt Management Policy <br />ii) County Capital Funding Policy <br />+ iii) Policy for Funding and Planning for School Capital Projects <br />iv) School Funding Target <br />b) Possible New Policies <br />i) County and School Fund Balance Policy <br />ii) Tax Assistance Policy <br />2) Seek long-term solutions to lessen County's reliance on residential property <br />tax revenues as its major source of revenue. <br />a) Continue to seek legislative authority to broaden local governments' <br />revenue options to include real estate transfer taxes and local option <br />sales taxes. <br />b) Seek viable and sustainable commercial development that adds to the <br />property and sales tax bases and enhances employment opportunities <br />for residents. <br />i) Work with Economic Development Commission to develop a <br />coherent set of strategies and targets for future non-residential <br />development. <br />3) Develop five-year financial forecast that projects future revenue growth and <br />anticipates expenditure needs based on current level <br />4) Examine opportunities to reallocate/realign/restructure current resources <br />while still being responsible in meeting citizens' needs. <br />a) Conduct aself-assessment of currently offered programs and services <br />to determine their viability in today's world. <br />b) Evolve from current budget process to one that is more <br />program/service oriented. <br />c) Identify programs/services that can be streamlined, combined or <br />eliminated. <br />