Orange County NC Website
Browse       Search
38 <br /> Slide #36 <br /> Pay-Go Phase-in Options <br /> Board Option — No Pay-Go in FY 25-26 using framework 3 — delay projects <br /> Staff Assumptions: FY 25-26 Pay-Go is reduced to$0, FY 26-27 Pay-Go is reduced to$6 M, FY 27-28 remains at$10 M. <br /> Pay-Go will be$100 M over 10 years of 26-36, rather than 25-35. <br /> Impact on School Projects Year Debt to AV DStoGF Debt Tax Rate Pay Go Tax Rate <br /> Revenues Equivalent Equivalent <br /> $10.4 M reduction in total pay-go funding for schools <br /> over 10 years. 2026 1.24% 11.44% <br /> 3 Major Projects delayed one year, adding $5.4 M 2027 1.19% 13.27% 2.424 1.780 <br /> • $15.8 M reduction in total funding for High Priority <br /> 2028 1.64% 13.17% 0.270 1.164 <br /> Needs or V project. 2029 1.801/. 14.54% 1,624 - <br /> 2030 1,63% 17.30% 3.135 <br /> 2031 1.64% 18.101/0 1.024 <br /> Impact on Tax Impact 2032 1.82% 17.85% - <br /> Borrowing is delayed so tax increases for debt 2033 1.71% 18.73% 0.714 <br /> comes in slower in 28-30, and .13 lower overall 2034 1.48% 19.24% 0.894 <br /> No Pay-Go tax in 26,4.2 cent total increase in 27 2035 1.36% 18.07% - <br /> Total Impact 10.060 2.9U <br /> 36 ORANGE <br /> COUNTY <br /> NOR`FHCA <br /> Kirk Vaughn listed the three major projects that would be delayed under the scenario <br /> described in slide #36. He said that results in $15.8 million not available for school high priority <br /> needs. <br /> Slide #37 <br /> Questions? <br /> ORANGE COUNTY <br /> NC]R"r'H C'ARC7L1NA <br /> Vice-Chair Hamilton said that one of the reasons she did not want to do pay-go in year <br /> one is due to the revaluation. She said there is a perfect storm of tax situations that are not <br />