HomeMy WebLinkAboutRES-2008-018a Conduct of a Advisory Referendum -Question of Whether to Levy a Local Land Transfer Tax'l~~S -aoa~-v ~ b''cL
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ADOPTED 02/19/08
ORANGE COUNTY BOARD OF COMMISSIONERS
A Resolution Regarding the Conduct of an Advisory Referendum on the Question of
Whether to Levy a Local Land Transfer Tax
WHEREAS, local governments in North Carolina have historically relied heavily on the ad valorem
property tax as their major source of revenue; and
WHEREAS, Orange County's reliance on the ad valorem property tax has increased steadily
during this decade to the point that more than 69 percent of the County's revenue as anticipated in
the adopted 2007-08 Orange County Budget Ordinance derives from this source; and
WHEREAS, for a number of years, the Orange County Board of County Commissioners, the North
Carolina Association of County Commissioners and many other Boards across the state have
lobbied the North Carolina General Assembly for legislative authority to expand counties' revenue
options and thereby to lessen counties' reliance on ad valorem property taxes; and
WHEREAS, during the 2007 legislative session, the General Assembly granted counties the
authority to enact new local revenue options - either a land transfer tax of up to .4% or an
additional'/<-cent sales and use tax, but not both -subject to voter approval; and
WHEREAS, without an alternative revenue source, various unfunded school and County capital
needs will likely have to be delayed or funded through increases in ad valorem property tax rates;
and
WHEREAS, on September 19, 2007 the Orange County Board of County Commissioners decided
to seek voter approval of one or both local revenue options on the May 2008 ballot; and
WHEREAS, on February 5, 2008 the Orange County Board of Commissioners held a public
hearing to seek community input regarding the revenue options prospectively to be placed on the
May 2008 ballot;
NOW, THEREFORE, BE IT RESOLVED pursuant to N.C. Gen. Stat. § 105-601, the Board directs
the following advisory referendum to be held and, with the concurrence of the Orange County
Board of Elections, to be held on May 6, 2008:
[ ]FOR [)AGAINST
Real property transfer tax at the rate of up to [.4] percent [.4%] of value or consideration.
Upon motion of Commissioner' secon by Commissioner ,the
~... foregoing resolution was adopted this the day of lug , 2008.
_ - ~ I, Donna S. Baker, Clerk to the Board of Commissioners for the County of Orange, North
Carolina, DO HEREBY CERTIFY t at the foregoing is a true copy of so much of the proceedings of
said Board at a meeting held on - ~G tt-i-u 2~0 as relates in any way to the adoption of
the foregoing and that said proceedings are ecor ed in the Minute Book of the Board.
WITNESS my hand and the seal of said Coun this day of +'-LGca~~ , 2008.
®,~n~gs lro,~~,.s
( ~$~ ~, Cler to the Board of Commissioners