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21 <br /> SECTION 3 - DEMOGRAPHIC PROJECTIONS BASED ON PROJECT DATA <br /> Demographic projections provide information about the number of new residents and school children anticipated in <br /> Orange County resulting from project development.Projections also provide the number of additional employees required <br /> 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 development. <br /> Total Population: The total population added each year by a project derived by multiplying the number of homes to be <br /> 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 multiplying the number <br /> of homes constructed by the number of children per household (see Section I). <br /> Additional County Employees: The number of additional employees required per service category based on project <br /> 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 district based on the <br /> 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 from project <br /> development. The values shown are in $1,000's and are derived from a formula which includes the number and sales <br /> price of homes, and the assessment ratio. Where applicable, the percentage of non-elderly units and elderly exemption <br /> are also used. <br /> Revenues: All revenues are derived from a formula which multiplies the per capita revenues (Section 2) times the <br /> projected population(Section 3). The exception to this is the property tax which multiplies the tax base times the county <br /> government tax rate. <br /> Expenditures: All expenditures are derived from a formula which multiplies the per employee expenditure(Section 2) <br /> 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 to a project <br /> than it receives in revenues. A positive net balance indicates that more revenues are received than it costs to serve a <br /> project. Positive net balances in one project may thus be used to offset negative balances in another. <br />