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33 <br /> Slide #2 <br /> FY2021-22 Budget Planning <br /> Solve for Debt Service Increase of Approximately S10 Million <br /> — Tax Equivalent of 4.81 cents per$100 Assessed Value <br /> Debt Service Raquiterntats <br /> Rw�Tax EyJvarerfi Cwrer!DestrA ' ApRo'1ed W <br /> 0=a gInF W18-19 Frcje . kn...to LMRfor <br /> f m cems) Sin ceiHsi �IServi� <br /> @n caul <br /> FY 261d19 _ 1 42 127 _ 127 <br /> FY 2019W 1.40 W AD <br /> 3i <br /> Fr 2Ms1 2.35 d <br /> r.�.. <br /> F 2MIU 2.78 3M HV5 <br /> F 2MM e a HGl <br /> Fr 2p23.2e 0 87 _ HA <br /> Tom 7Ae r]e OF — <br /> ORANGE COUNTY <br /> .k)Kn I i_SR LINA <br /> Travis Myren said the County will need a solution for a $10 million increase in debt <br /> service. He said based on the current debt model, the County deferred the tax increase last <br /> year with one-time revenues. He said to pay for debt service in FY22 with a tax increase only <br /> would require an increase of 4.81 cents, which be a combination of the deferred FY21 needs <br /> and FY22. <br /> Bonnie Hammersley said every penny on the tax rate is $2 million, and the first <br /> obligation of a county is to pay the debt. He said 4.81 cents would only go to pay debt. <br /> Commissioner McKee confirmed that in FY23, there is no tax rate increase needed for <br /> debt service, as debt service payments will not increase that year. <br /> Bonnie Hammersley said yes. <br /> Travis Myren resumed the PowerPoint presentation: <br /> Slide #3 <br /> FY2021-22 Budget Planning <br /> Achieve Structurally Balanced Budget <br /> — Replace$7 Million in FY2020-21 One Time Revenues(if posstle1 <br /> • Assume Stagnant Motar Vehicle Property Tax Growth <br /> - Compared to 2.75%Annual Growth Hlsbwically <br /> • Integrate Real Property Revaluation with Stale Collection Rates <br /> 8.9k%Protected Growls in the Tax BaS@)m &ad Vame <br /> — Revenue Neutral Rare—82.0$cents <br /> — Curren[Rate—136.79 cenw <br /> ORANGE COUNTY <br /> y)IMI iA1 INA <br />