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FY 07-08 Budget

FY 07-08 Budget. Property Tax Reform Budget Guidelines Worksession Agenda Worksession Summary Budget Timeline. FY 07-08 Budget. Property Tax Reform Budget Guidelines Worksession Agenda Worksession Summary Budget Timeline. 2007B Special Session.

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FY 07-08 Budget

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  1. FY 07-08 Budget • Property Tax Reform • Budget Guidelines • Worksession Agenda • Worksession Summary • Budget Timeline

  2. FY 07-08 Budget • Property Tax Reform • Budget Guidelines • Worksession Agenda • Worksession Summary • Budget Timeline

  3. 2007B Special Session Legislature released property tax reform plan on June 11 Special session convened on June 12 Special session adjourned on June 14 Property Tax Reform

  4. 2007B Special Session Three bills passed HB 1-B SJR 4-B HB 5-B Statutory changes effective immediately Constitutional amendment to voters on January 29, 2008 Property Tax Reform

  5. House Bill 1-B Establishes “maximum millage” rates for counties, cities and special districts Fiscal Year 2007-08 Roll back taxes to fiscal year 2006-07 level Allows increase for new construction Reduces property taxes by an additional percentage cut (3%, 5%, 7% or 9%) based on prior tax performance Property Tax Reform

  6. Fiscal Year 2008-09 Additional tax cut if constitutional amendment passes Fiscal Year 2008-09 and thereafter Maximum millage rate equal to prior year proceeds plus new construction and personal income growth House Bill 1-B Property Tax Reform

  7. Bill provides methods for overriding maximum millage rates Governments that don’t comply with statutory requirements lose their ½ cent sales tax revenue sharing from the state House Bill 1-B Property Tax Reform

  8. January 29 special election Increases homestead exemption 75% of first $200,000 of home value exempt 15% from $200,001 – $500,000 of home value is exempt $500,000 upper limit is indexed to personal income growth Minimum exemption = $50,000 Minimum exemption increased to $100,000 for low income seniors Allows the option to keep the “save our homes” exemption instead of the new exemption until the home is sold Proposed Constitutional Amendment Property Tax Reform

  9. $25,000 tangible personal property exemption for all businesses Affordable housing and working waterfronts assessed on income approach Allows the Legislature to limit local government taxes Proposed Constitutional Amendment Property Tax Reform

  10. Property Tax Reform FY 06-07 Property Tax $723 Million Budgeted

  11. Property Tax Reform FY 07-08 property taxes (no change in millage rate) $843 Million FY 06-07 property taxes FY 07-08 property taxes (rolled back w/ 5% cut) $723 Million $723 Million

  12. Property Tax Reform FY 07-08 property taxes (no change in millage rate) $843 Million FY 06-07 property taxes FY 07-08 property taxes (rolled back w/ 5% cut) $120M or 16.6% Increase $723 Million $723 Million

  13. Property Tax Reform FY 07-08 property taxes (no change in millage rate) $843 Million $120M or 14.2% Decrease FY 06-07 property taxes FY 07-08 property taxes (rolled back w/ 5% cut) $120M or 16.6% Increase $723 Million $723 Million

  14. Challenges Revenue is flat O & M Expenditures are increasing Sheriff Corrections Fire Rescue Medical Examiner Supervisor of Elections Fuel/Utilities Property Tax Reform

  15. Fiscal Year 2008-09: Additional $60 – $70 million additional tax cut if constitutional amendment passes Fiscal Years 2008-09 and thereafter: Taxes capped at prior year’s property tax level plus new construction and personal income growth Property Tax Reform

  16. Property Tax Reform • Budget developed using the 3% reduction formula • House Bill 1-B passed on June 14 reflecting a 5% reduction • Fire and Library limited to 3% reduction • $8 million adjustment to budget in September from reserves • Millage information presented in budget document updated based on 5% reduction for countywide millage, Sheriff MSTU, and a 3% reduction for Fire MSTU

  17. Property Tax Reform • Countywide 5.1639 4.4315 (14.2%) • Sheriff MSTU 2.1234 1.8043 (15.0%) • Fire MSTU 2.5862 2.2437 (13.2%) % Change Proposed Rate Current Rate Millage Rates

  18. FY 07-08 Budget • Property Tax Reform • Budget Guidelines • Worksession Agenda • Worksession Summary • Budget Timeline

  19. Budget Guidelines Mayor’s Direction for Budget Cuts • Applies to: • County departments • (Excludes Public Safety, Enterprise Operations, and Grant Funded Operations) • Outside agencies • Constitutional Officers • 10% cut to operating budgets • 5% reduction to workforce through attrition and vacancies • Hiring freeze

  20. Budget Guidelines Parks & Recreation Strategy • Reduce O&M by reducing level of service for operations and programs • Account for increased O&M due to new parks currently under construction • Do not undertake any new parks projects where construction has not yet started

  21. Budget Guidelines Capital Projects Strategy • Complete on-going capital projects • Do not undertake any new capital projects, except: • Medical Examiner Building • Animal Services Building • Supervisor of Elections Voting Equipment • Corrections Locks

  22. Budget Guidelines Invest in Orange County Our Children’s Legacy $530 Million Pedestrian Safety & Community Enhancements $155 M Environmental Preservation $125 M Roadway Improvements $250 M

  23. Budget Guidelines Invest in Orange County Our Children’s Legacy • Pay off $20 million in short-term debt • $40 million cash funding for FY 07-08 • No additional debt will be issued until Constitutional Amendment is known

  24. Budget Guidelines Invest in Orange County Our Children’s Legacy • Top Priorities • Commuter Rail • Roadway Improvements • GreenPLACE

  25. Budget Guidelines Invest in Orange County Our Children’s Legacy • Projects On Hold • Roadways • Pedestrian Safety • Sidewalks • Bridges • Intersections • Trails • Bus Shelters & Pullouts • Gymnasiums & Recreation Centers • StreetScape

  26. FY 07-08 Budget • Property Tax Reform • Budget Guidelines • Worksession Agenda • Worksession Summary • Budget Timeline

  27. Introduction Administrative Services Growth Management Health & Family Services Community & Environmental Services ISS Convention Center Medical Benefits Worksession AgendaJuly 17, 2007

  28. Public Safety / Fire Rescue / Corrections Juvenile Assessment Center Public Works Utilities Parks & Recreation Fee Presentation Library Worksession AgendaJuly 18, 2007

  29. Constitutional Officers Economic Development Program LYNX Outside Agencies Emergency Medicine Learning & Resource Center Green Government / Global Warming Initiatives Commuter Rail Worksession AgendaJuly 19, 2007

  30. FY 07-08 Budget • Property Tax Reform • Budget Guidelines • Worksession Agenda • Worksession Summary • Budget Timeline

  31. Summary of Budget Worksessions Approval of Tentative Millage Rates Approval of Tentative Budget Approval of Budget Consent Agenda Worksession Summary

  32. FY 07-08 Budget • Property Tax Reform • Budget Guidelines • Worksession Agenda • Worksession Summary • Budget Timeline

  33. Budget Timeline • Property Tax Reform & Budget Update June 5 • Property Tax Reform Update June 26 • Budget Submittal to BCC July 11 • Maximum Millage Rates Confirmed July 13 • Budget Worksession with BCC July 17 – 19 • Notify PA of Proposed Millage Rates Aug. 4 • PA Mails TRIM Notices Aug. 24 • 1st Budget Public Hearing – 6:00 p.m. Sept. 6 • 1st Library Public Hearing – 5:01 p.m. Sept. 10 • 2nd Library Public Hearing – 5:01 p.m. Sept. 18 • 2nd Budget Public Hearing – 6:00 p.m. Sept. 20

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