Agenda 02-15-24; 2 - Consultant Briefing on Orange County Land Use Plan 2050

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12 • Nevertheless, people moving from the northeast United States to Orange County do not actually find the cost-of-living as high as people who are from the southern United States. These residents are generally happy to pay the "higher" tax rate since it is lower compared to the tax rate from where they are moving. • Historically, tax assessment has not been equitable across racial groups of landowners. White residents' properties are often undervalued, and Black residents' properties are often overvalued. Assessors have been working to correct this inequity. • A solid commercial tax base allows for a more diverse revenue base and does not put as much pressure on residents to provide tax funding for services. Commercial property taxpayers are also typically more capable of weathering price shocks, like a tax hike caused by debt servicing a utility system overhaul or upgrade. • Funding public schools is the County's largest expense. Based on continued growth in parts of the County, decisionmakers should anticipate having to build (and fund) new schools. • Environmental stakeholders (and those interested in protecting community character and aesthetics) often oppose economic development that is not compatible with their vision for the county. This often includes chain retail, dollar stores, and other non-local businesses or businesses that do not themselves seem interested in conservation. • The Buc-ee's proposed development along 1-40 in Mebane is seen as a key example of environmental groups thwarting significant economic development because of a business' mission being out-of-step with the mission of major county stakeholders. Facilitate Development of Affordable Housing • Rising housing costs have made it difficult for service industry workers to be able to live in Orange County. This has created worker shortages for various businesses in the county (especially in Hillsborough). In some cases, businesses have shortened their workweeks to account for employee unwillingness to drive from their homes in other counties to businesses in Orange County. • Rising home values raise property tax rates and can make even lower priced housing unaffordable. • Development of affordable housing in the Chapel Hill/Carrboro area might be more difficult because the Rural Buffer limits available, affordable land and Chapel Hill/Carrboro regulations do not allow for the level of density that would be necessary to offset the limitations created by the Rural Buffer. • Recent UNC graduates do not have the money to stay in Orange County after graduation. Rising tax rates and limited affordable housing choices do not create any further incentives for them to do so. Orange County, North Carolina - Land Use Plan 2050 1 Stakeholder Interviews Summary 9