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15 <br /> 1 Slide #3 <br /> Revenue Neutral Property Tax 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 f X Property Tax Rate! =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 /> GRANGE COUNTY <br /> Nt)121'11 CAROLINA <br /> 2 <br /> 3 <br /> 4 Slide #4 <br /> Revenue Neutral Property Tax Rate <br /> Property Tax Base X Property Tax Rate= Property Tax Lewy <br /> Property Type Assessed Value for 2025 <br /> Real Property <br /> Land+Improvements/Buildings $29,645,160,916 <br /> • Adjusted by 5%for expected appeals <br /> Personal Property&Public Utilities <br /> Unlicensed vehicles,trailers,campers,boats, $1,242,143,886 <br /> yet skis,etc. <br /> Power company,gas company,railroad,etc. <br /> Motor Vehicles $1,743,029,203 <br /> TOTAL $32,630,334,005 <br /> 38.6%Increase from FY2024-25 <br /> a <br /> ORANGE COUNTY <br /> NA5 <br /> 6 <br /> 7 <br />