Orange County board approves $200.4M budget, 2-cent tax increase
06/18/2014 10:58 AM
06/18/2014 10:59 AM
The Orange County Board of Commissioners approved a $200.4 million budget Tuesday that adds 2 cents to the tax rate.
The 2014-15 budget also uses $10 million in county savings to cover additional spending. It gives all county employees a 1.5 percent pay raise.
Roughly 49 percent of next year’s revenues will support local education. The Chapel Hill-Carrboro City Schools will receive $44 million, while the Orange County Schools will get $28 million. Both systems also receive additional funding for building and maintenance projects.
The county tax rate will be 87.8 cents per $100 in assessed property value. The county tax bill for a home valued at $300,000 would be $2,634.
The county tax increase is in addition to the Chapel Hill Town Council’s recent approval of a penny tax increase. The town’s new tax rate will be 52.4 cents per $100 in assessed value. Carrboro’s Board of Aldermen approved a $21.2 million budget Tuesday with no tax increase.
Residents within the town limits of Chapel Hill and Carrboro also pay town taxes and the Chapel Hill-Carrboro City Schools district tax, which will remain 20.84 cents per $100 in property value and generate $21.8 million more for the city schools.
Residents who live in the Orange County Schools district do not pay a school tax.
Both school districts expect more cuts after the state legislature finishes its budget.
The commissioners also approved Tuesday two requested fire service district tax increases. Residents in the New Hope fire service district will pay 9.95 cents per $100 in assessed property value next year, while White Cross residents will pay 11 cents per $100 in property value.
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