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Agenda Package - 01-22-08 (Finance)
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Agenda Package - 01-22-08 (Finance)
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Board of Commissioners
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NCACC <br />Page 3 of4 <br />not a one-shot deal. Our research has shown that many communities around the <br />country that had a successful referendum to implement a land transfer tax or an <br />additional sales tax had to take it to the voters more than once before it was approved. <br />County commissioners will continue to do what they feel is best for their communities <br />and will continue to ask the citizens how they feel is the best way to pay for their <br />needs." <br />The General Assembly granted counties additional revenue authorities to help them <br />deal with future needs caused by our state's rapid population growth and as a way to <br />relieve pressure on the property tax. The 2007-09 state budget included two local- <br />option revenues for counties - a quarter-cent sales tax increase or a 0.4 percent land <br />transfer tax. A county can only enact one option, and whichever option a county <br />chooses must first be approved by the public via a referendum. <br />As of early November, 10 counties had announced they will pursue revenue options in <br />2008. Alexander County. will try for a quarter-cent sales tax in January. Caswell, <br />Duplin, Edgecombe, Lee, Nash, Onslow, Orange and Pamlico will seek either or both <br />of the sales tax or 0.4 percent land transfer tax in May. Polk will try for the land <br />transfer tax in November. <br />Counties that were not successful this time may also choose to try again. <br />North Carolina is in the midst of a population explosion that will see the state's <br />population grow from approximately 8 million in 2000 to more than 12 million by 2030, <br />according to projections from the U.S. Census Bureau. These new residents are <br />already straining existing public infrastructure, such as schools, water and sewer, and <br />jails. <br />A 2006 survey by the Department of Public Instruction revealed approximately $9.8 <br />billion of public school capital needs over the next five years. The drought has strained <br />® water supplies in many counties that are already struggling to keep up with the <br />demands for fresh water. <br />For 2007-08, 48 counties representing more than two-thirds of the state's population <br />raised property taxes, the largest number of counties with an increase in a single year <br />in at least five years. In 2005-06, 45 counties raised property taxes, including 19 that <br />saw increases of 10 percent or greater. <br />Nov. 6 referenda by county <br />County <br />Revenue option <br />Result <br />Brunswick <br />0.4 percent land transfer tax <br />Failed <br />Catawba <br />0.25 percent sales tax <br />Passed <br />Chatham <br />0.4 percent land transfer tax <br />Failed <br />Columbus <br />0.25 percent sales tax <br />Failed <br />Cumberland <br />0.25 percent sales tax <br />Failed <br />Davie <br />0.4 percent land transfer tax <br />Failed <br />Davie <br />0.25 percent sales tax <br />Failed <br />Gates <br />0.4 percent land transfer tax <br />Failed <br />Graham <br />0.4 percent land transfer tax <br />Failed <br />Graham <br />0.25 percent sales tax <br />Failed <br />Greene <br />0.25 percent sales tax <br />Failed <br />Harnett <br />0.4 percent land transfer tax <br />Failed <br />Harnett <br />0.25 percent sales tax <br />Failed <br />Henderson <br />0.4 percent land transfer tax <br />Failed <br />Hertford <br />0.25 percent sales tax <br />Failed <br />Hoke <br />0.4 percent land transfer tax <br />Failed <br />
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