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6 <br /> Revenue Neutral PropertyTax Rate <br /> • County is required to publish but not adopt a Revenue Neutral Property Tax Rate <br /> - The tax rate that would be required to raise the same amount of revenue as the previous year, plus an allowance <br /> for average natural growth rate. <br /> - Current tax rate - 0.8629 cents per $100 of value <br /> • Revenue neutral tax rate will drop if tax base increases <br /> - Property Tax Base t X Property Tax Rate 1 = Property Tax Levy <br /> • Average natural growth rate due to new construction for the past three years and growth in the <br /> value of motor vehicles = 2.52% <br /> i <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />