Get ready, Orange County homeowners. Commissioners are salivating over taking more money out of the wallets of Orange County families.
During a planning retreat on Friday, the Orange County Board of Commissioners reviewed its proposed $180 million budget for the 2013-14 fiscal year.
To fill a $1.7 million deficit, the commissioners discussed a 1.1 percent property tax rate increase — which could further cement the county’s place among the highest property tax rates in the state.
The current property tax rate is 85.8 cents.
The talk of another property tax hike comes as Orange County prepares to levy….you guessed it …. a different tax hike.
Effective April 1, 2013, Durham and Oranges counties will levy a 0.50 percent Transit sales and use tax. Those counties adopted resolutions to levy the Transit tax, which will support the Research Triangle Regional Public Transportation Authority.
The additional 0.50 percent Transit sales and use tax applies to sales of tangible personal property, certain digital property and other transactions subject to general State rate of sales and use tax.
The State, local and Transit sales and use tax rates for Durham and Orange Counties total 7.50 percent effective April 1.