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38 <br /> 1 Slide#2 <br /> FY2026-27 Operating Budget Model Update <br /> Updates to Operating Budget Model <br /> - Initial Operating Budget Gap of$21.45 million <br /> Property Tax Base <br /> Sales Tax Projection <br /> • Living Wage <br /> Pay-Go Funding <br /> Debt Service <br /> Crisis Diversion Operating Costs <br /> • Health Insurance Costs <br /> 2 <br /> ORANGE COUNTY <br /> CAROLIWA2 <br /> 3 <br /> 4 Slide#3 <br /> FY 2026-27 Property Tax Base <br /> FY 2026-27 Property Tax Base—($400,000) savings to model <br /> Real Property Tax Actual FY 26 Final Tax Base $ 30,620,975,377 Final PY2025-251ax Base <br /> includes <br /> FY 27 Growth $ 435,594,941 <br /> • 1.47%tax base loss due to <br /> FY 27 Exemptions $ (91,783,000) appeals•-$460 million <br /> Chantal Property Loss $ (10,000,000) $50 million loss from affordable <br /> FY 27 Appeals.005% $ (154,773,937) housing exemptions <br /> FY 27 Real Tax Base $ 30,800,013,381 $62 million Brownfield exemption <br /> — $435.6 million in natural growth due to new construction <br /> Natural growth has declined from 2%in prior years to IA% <br /> Growth in Motor Vehicles(10.6%)increases total tax base to 227%_$400,000 in new property tax revenue <br /> - $91.8 million additional exemptions for properties qualifying as affordable housing <br /> - $10 million loss in value due to Tropical Storm Chantal damage as of January 1, 2026 <br /> - $154.8 million loss assumed for additional appeals of 2025 values <br /> �1 <br /> ORANGE COUNTY <br /> 3 NORTH CAROLINA <br /> 5 <br /> 6 Travis Myren reported that the appeals process has largely stabilized,with all informal and formal <br /> 7 appeals for the current tax year processed, and a small number still pending before the Property Tax <br /> 8 Commission. He said the final FY 2025-26 tax base is approximately $30.6 billion, reflecting a 1.7% <br /> 9 reduction due to appeals. He identified two significant exemption categories affecting the base: affordable <br /> 10 housing exemptions totaling approximately$50 million in FY 2025-26, and a brownfield exemption under <br />