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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: November 7, 2024 <br /> Action Agenda <br /> Item No. 8-j <br /> SUBJECT: Resolution Authorizing Vehicle Registration Tax Increase <br /> DEPARTMENT: Orange County Transportation Services (OCTS) <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 1. October 1, 2024 GoTriangle Minutes Nishith Trivedi, Transportation Director, <br /> 2. Resolution 919-245-2007 <br /> PURPOSE: To approve a resolution authorizing the GoTriangle additional two dollars ($2.00) <br /> vehicle registration tax increase. <br /> BACKGROUND: At its March 6, 2014 meeting, the Orange County Board of Commissioners <br /> approved a resolution authorizing the Research Triangle Regional Public Transportation Authority <br /> — now GoTriangle — to levy the eight dollars ($8.00) vehicle registration tax on motor vehicles <br /> registered in Orange County. The North Carolina General Assembly approved House Bill 199 <br /> allowing for a two dollar ($2) increase in the vehicle registration tax, and it was signed into law <br /> July 2, 2024 (link). Go Triangle, as the regional transit tax district for Wake, Durham and Orange <br /> County, anticipates an additional $2.6 million in annual revenue. <br /> On October 1,2024, the GoTriangle Special Tax Board received a presentation from Go Triangle <br /> staff member Byron Smith on the process necessary to implement the new law (minutes provided <br /> at Attachment 1), and summarized below: <br /> Timeline: <br /> • October 23, 2024 — GoTriangle Board of Trustees holds public hearing <br /> • October 23/24, 2024 — Special Tax Board considers resolution approving the tax increase <br /> • October 24 through November 19, 2024 — County boards consider resolutions approving the <br /> tax increase <br /> • November 20, 2024 — GoTriangle Board of Trustees considers resolutions approving the tax <br /> increase <br /> GoTriangle's action requires that the original March 2014 resolution also be updated. Attachment <br /> 2 is the proposed updated resolution that County staff proposes the Board adopt the approving <br /> the GoTriangle vehicle registration tax increase. <br /> FINANCIAL IMPACT: Funds collected from this increase — $2.6 million — will go to GoTriangle. <br /> ALIGNMENT WITH STRATEGIC PLAN: This item supports: <br /> • GOAL 4: MULTI-MODAL TRANSPORTATION <br />