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4 <br /> • The FY 2022-23 Budget increased the tax rate by 1.25 cents from 81.87 cents to 83.12 cents per $100 of <br /> assessed value. One cent is dedicated to support the current expenses for the school districts which <br /> increased by $4.2 million. The remaining 0.25 cents increase is dedicated to debt service. <br /> • Motor vehicles are 29.7% of the Motor Vehicle budget as compared to 31.5% in the prior fiscal year. <br /> This slight variance is attributed to a timing variance and the higher budgeted amount from the 1.25 <br /> cent tax rate increase. <br /> • Motor vehicle taxes are payable on the vehicle renewal date and the tax is based on market value of the <br /> vehicle. The State remits this tax to the County on a monthly basis. FY 2022-23 Motor Vehicles are $3.4 <br /> million as compared to $3.3 million the prior fiscal year. <br /> • Sales Tax for Articles 39, 40, 42 and Hold Harmless amounts are recorded in the General Fund. As noted <br /> previously, the three-month lag means no revenue was remitted by NCDOR during the first quarter. <br /> • Charges for services are 26.7% of the budget as compared to 23.8%the prior fiscal year, with the <br /> favorable performance variance attributed to higher cost recovery Emergency Charges approved this <br /> year's budget. The three revenue sources to highlight are: <br /> Emergency Medical Charges. Emergency Medical Charges collections are $1.7 million compared to <br /> $721,435 collected through the first quarter of last year attributed to the FY 2022-23 rate increases. <br /> County rates for transporting were significantly lower than other jurisdictions with Medicare and private <br /> insurance accounting for more than 50% of the rate base. <br /> Excise Stamps (Real Estate Transfers). Excise Stamps have decreased by roughly 50%from $887,801 to <br /> $416,707 this fiscal year. Mortgage rates have more than doubled from 3% last year to 7% this year, <br /> therefore the number of refinancing transactions and real estate transfers decline results in less excise <br /> stamp revenue. <br /> Permits. Permits have increased which provides a good indicator for segments of the construction <br /> industry. Planning and Inspection revenue remain stable at $604,035 through the first quarter of this <br /> fiscal year compared to $555,163 the prior fiscal year. <br /> • Miscellaneous revenue variance of 4.9% of budgeted revenues as compared to 3.2%the prior fiscal. This <br /> category includes donations, investment earnings. FY 2022-23 total of$219,970 compared to $227,000 <br /> last year. The largest share represents revenue from facility lease rentals. <br /> 4 <br />