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15 <br /> 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 t X Property Tax Rate l =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 /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> Slide #4 <br /> Revenue Neutral Property Tax Rate <br /> Property Tax Base X Property Tax Rate = Property Tax Levy <br /> Propertyp- 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 /> jet 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 /> ORANGE COUNTY <br /> 4 NORTH CAROLINA <br />