Anticipated county property tax revenue availability definition
Anticipated county property tax revenue availability means the
Anticipated county property tax revenue availability means the county-adjusted property tax base multiplied by the effective State average tax rate.
Anticipated county property tax revenue availability means the 2 county-adjusted property tax base multiplied by the effective State average 3 tax rate. 4 (2) "Anticipated total county revenue availability" means the sum of the: 5 a. Anticipated county property tax revenue availability, 6 b. Local sales and use taxes received by the county that are levied under 7 Chapter 1096 of the 1967 Session Laws or under Subchapter VIII of 8 Chapter 105 of the General Statutes, 9 c. Sales tax hold harmless reimbursement received by the county under 10 G.S. 105-521, and 11 d. Fines and forfeitures deposited in the county school fund for the most 12 recent year for which data are available. 13 (3) "Anticipated total county revenue availability per student" means the 14 anticipated total county revenue availability for the county divided by the 15 average daily membership of the county. 16 (4) "Anticipated State average revenue availability per student" means the sum 17 of all anticipated total county revenue availability divided by the average 18 daily membership for the State. 19 (5) "Average daily membership" means average daily membership as defined in 20 the North Carolina Public Schools Allotment Policy Manual, adopted by the 21 State Board of Education. If a county contains only part of a local school 22 administrative unit, the average daily membership of that county includes all 23 students who reside within the county and attend that local school 24 administrative unit. 25 (6) "County-adjusted property tax base" shall be computed as follows: 26 a. Subtract the present-use value of agricultural land, horticultural land, 27 and forestland in the county, as defined in G.S. 105-277.2, from the 28 total assessed real property valuation of the county, 29 b. Adjust the resulting amount by multiplying by a weighted average of 30 the three most recent annual sales assessment ratio studies, 31 c. Add to the resulting amount the: 32 1. Present-use value of agricultural land, horticultural land, and 33 forestland, as defined in G.S. 105-277.2, 34 2. Value of property of public service companies, determined in 35 accordance with Article 23 of Chapter 105 of the General 36 Statutes, and 37 3. Personal property value for the county. 38 (7) "County-adjusted property tax base per square mile" means the 39 county-adjusted property tax base divided by the number of square miles of 40 land area in the county. 41 (8) "County wealth as a percentage of State average wealth" shall be computed 42 as follows: 43 a. Compute the percentage ...