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40 <br /> 1 Slide #20 <br /> FY 2025-26 Revenue Assumptions <br /> PROPERTY TAX RATE <br /> County is required to publish but not adopt a"Revenue Neutral Rate" <br /> - The tax rate that would be required to raise the same amount of revenue as the prev lous year,plus an allowance for <br /> average natural growth rate. <br /> - Current tax rate -0.8629 cents per$100 of value <br /> Revenue neutral rate will drop to approximately 0.64 cents <br /> - Property Tax Base X Tax Rate=Property Tax CoNecibns <br /> 2.36%Natural Growth=$4.7 Million <br /> �� <br /> ORANGE COUNTY <br /> NORTH CAROI INA <br /> 2 <br /> 3 Commissioner Carter asked how natural growth is calculated. <br /> 4 Travis Myren said natural growth is based on the previous three years of actual growth in <br /> 5 the tax base. <br /> 6 Commissioner Carter asked if the natural growth calculation would take the revaluation <br /> 7 into account at some point. <br /> 8 Kirk Vaughn said revaluation years are not used to establish natural growth rate, so the 3 <br /> 9 years prior to the revaluation would be used in future calculations. <br /> 10 Vice-Chair Hamilton said it is possible that revenue neutral rate could be different <br /> 11 depending on the results of the revaluation. <br /> 12 Travis Myren said staff is confident in the projection, but the tax base is established in <br /> 13 January each year and that is what will be used in the budget. <br /> 14 <br /> 15 <br />