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41 <br /> 1 Slide #21 <br /> Impact of the Revaluation on Individual Property owners <br /> Interaction between increased value and tax rate decrease <br /> Value Pre-Revaluation V $ 400,000 0.8629$ 3,452 Post Revaluation Value $ 450,000 0.04 $ 2,880 $[572] <br /> Pre-alu <br /> Value Revaluation $ 400,000 0.8629$ 3,452 Post Revaluation Value $ 600,000 0.64 $ 3,840 $ 388 <br /> V <br /> slu <br /> �� <br /> ORANGE COUNTY <br /> 21 NORTH C:AKOLINA <br /> 2 <br /> 3 Commissioner McKee said this is a catch 22 on a lot of "lower cost" housing that exist <br /> 4 around urban areas. He said West Hillsborough is a prime example. He said these folks are <br /> 5 usually lower income or on fixed income and have a large jump in their tax value. He said this <br /> 6 happened after the last revaluation in Northside and other areas around the County. <br /> 7 Chair Bedford shared that a listsery email was sent out yesterday from Community <br /> 8 Relations with the timeline for tax notices and the appeals period. <br /> 9 Travis Myren said home values alone are estimated to increase around 50-60%. <br /> 10 <br /> 11 Slide #22 <br /> FY 2025-26 Revenue Assumptions <br /> PROPERTY TAX REVENUE PROJECTION <br /> Allowance for average natural growth above revenue neutral collections-2.36%or$4.7 Million <br /> No Change in Collections 992%for Property,99.6%for Vehicles <br /> Total property tax revenue estimated to be$204 Million for FY2025-26 budget model <br /> ORANGE COUNTY <br /> NORTH C.AROLINA <br /> 12 <br />