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Agenda - 10-15-2002 - 5d
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Agenda - 10-15-2002 - 5d
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Last modified
7/31/2017 3:06:15 PM
Creation date
8/29/2008 11:12:05 AM
Metadata
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Template:
BOCC
Date
10/15/2002
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
5d
Document Relationships
Minutes - 20021015
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2002
RES-2002-071 Resolution Levying the Third One-Half Cent Local Government Sales and Use Tax RES-2002-071
(Linked From)
Path:
\Board of County Commissioners\Resolutions\2000-2009\2002
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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: October 15, 2002 <br /> Action Agenda <br /> Item No. <br /> SUBJECT: Resolution Levying the Third One-Half Cent Local Government Sales and Use <br /> Tax <br /> DEPARTMENT: Budget PUBLIC HEARING: (Y/N) No <br /> ATTACHMENT (S): INFORMATION CONTACT: <br /> Attachment 1. NC Association of County Donna Dean 245-2151 <br /> Commissioners Fact Sheet on Sales Tax <br /> Conference Committee Report TELEPHONE NUMBERS: <br /> Attachment 2. Listing of Projected Hillsborough 732-8181 <br /> Revenues for Orange County and Three Chapel Hill 968-4501 <br /> Municipalities (provided by the NC Durham 688-7331 <br /> Association of County Commissioners) Mebane 336-227-2031 <br /> Attachment 3. Draft Resolution Levying <br /> the Third One-Half Cent Local <br /> Government Sales and Use Tax and <br /> Prescribing the Method of Distribution of <br /> the Proceeds Within Orange County <br /> PURPOSE: To consider approval of a "Resolution Levying the Third One-Half Cent Local <br /> Government Sales and Use Tax and Prescribing the Method of Distribution of the Proceeds <br /> Within Orange County." <br /> BACKGROUND: Since 1979, the General Assembly has repealed or changed sales and <br /> property tax laws that have, for the most part, negatively affected local government revenues. <br /> Over the years; in an effort to make up for some of these local revenue losses, the State chose <br /> to reimburse counties and cities for a portion of the losses. <br /> On February 5, 2002, Governor Easley declared a state of fiscal emergency to deal with the <br /> State's projected budget shortfall for fiscal year 2001-02. At that time, Governor Easley <br /> announced his intent to withhold reimbursements from local governments in an effort to balance <br /> the State's budget. This action by the Governor led to a revenue loss of more than $700,000 <br /> for Orange County in fiscal year 2001-02. <br /> The County's 2002-03 Manager's Recommended Budget anticipated the receipt of the <br /> reimbursements. In May 2002, the Governor released a proposed budget for fiscal year 2002- <br /> 03 that did not allow for reimbursements to local governments. As a result, the Manager <br /> recommended, and the BOCC acted on, 2002-03 budget reductions during the June 2002 <br /> budget work sessions to accommodate the loss of more than $3.1 million in revenue that should <br />
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