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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />46 <br />47 <br />48 <br />49 <br />50 <br />16 <br />A motion was made by Commissioner Marcoplos, seconded by Commissioner <br />Burroughs to set a tax rate of 2.42 cent tax increase the first year, and bank it. <br />Commissioner McKee said he supported the incremental tax increases due to the <br />possibility of an improving economy leading to removing the tax increase all together further <br />down the road. He said he does not believe the County should be in the business of taxing <br />residents in order to bank the money for future use. <br />Commissioner Rich asked Bonnie Hammersley if she could explain how the County <br />would bank the money. <br />Bonnie Hammersley said staff would create a debt service fund. She said the 1.42 <br />increase would provide $2.6 million in revenue, which is what the County needs to pay its debt. <br />She said the additional revenues would go into a debt fund and be used for future debt service. <br />Commissioner Burroughs said the economy may not continue to rise, and then the <br />Board is left to implement a large tax increase, which will be very painful. <br />Commissioner Marcoplos said recessions occur on an average of every 7 years. <br />VOTE: Yeas, 2 (Commissioner Marcoplos and Commissioner Burroughs); Nays, 5 (Chair <br />Dorosin, Commissioner McKee, Commissioner Rich, Commissioner Jacobs, Commissioner <br />Price). <br />MOTION FAILS <br />FY2018 -19 Tax Rates <br />• Approve the FY2018 -19 County Ad Valorem (Property Tax) Rate at 85.04 Cents per <br />$100 of Value <br />• Approve the FY2018 -19 Chapel Hill - Carrboro City Schools Special District Tax Rate at <br />20.18 Cents per $100 of Value <br />• Approve the FY2018 -19 Fire District Tax Rates <br />• FY2018 -19 Tax Rates <br />A motion was made by Commissioner Jacobs, seconded by Commissioner Price to <br />approve the three motions above: <br />Approve the FY2018 -19 Chapel Hill - Carrboro City Schools Special District Tax Rate at <br />20.18 Cents per $100 of Value <br />Approve the FY2018 -19 Fire District Tax Rates <br />Approve the FY2018 -19 County Ad Valorem (Property Tax) Rate at 85.04 Cents per <br />$100 of Value <br />Chair Dorosin said the Board should discuss the special district tax rate, and the <br />possibilities to preserve educational funding while reducing the disparities. He said the per - <br />pupil rate is $4,165, and when the Chapel Hill district tax is added in, the rate increases to <br />$6,085 for CHCCS. He said these dollars make a real difference in the education of each <br />student, and the Board is responsible for every student in the entire County. He said he is not <br />advocating cutting educational funding, but he has concerns about having two school districts <br />that are separate and unequal. <br />Commissioner Jacobs said he agreed, but with the purposely- vindictive General <br />Assembly and its attitude towards Orange County, he feels it is risky to have this discussion <br />