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3 <br /> Slide #3 <br /> FY2024-25 RECOMMENDED BUDGET <br /> Revenue Projections <br /> Sales Tax Projections <br /> Sales Tax has slowed to pre-covid levels of single digit percentage <br /> increases: <br /> - Point of Delivery—4% <br /> - Per Capita—3% <br /> Projected Increase = $1.6M <br /> State Hold Harmless <br /> Anticipated reduction = ($2.2M) <br /> �1 <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> Bonnie Hammersley said to put the sales tax percentage increase into perspective, last <br /> year the revenue projection for sales tax was $8.1 million vs. $1.6 million this year. She said this <br /> year, for the first time since it has been established, Medicaid costs surpassed sales tax revenue, <br /> resulting in a reduction of$2.2 million. <br /> Slide #4 <br /> FY2024-25 RECOMMENDED BUDGET <br /> Revenue Projections <br /> Property Tax Projections <br /> Property Tax Growth 2.45% = $5.3 Million <br /> Recommended Property Tax Increase: <br /> $0.0281—balance budget = $6.5M <br /> Current Tax Rate= $0.8353 per$100 valuation <br /> Recommended Tax Rate = $0.8634 per$100 valuation <br /> Solid Waste Pee <br /> Rate Reduction$142 to$138 <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />