We are developing an ASP.NET HR Application that will make thousands of calls per user session to relatively static database tables (e.g. tax rates). The user cannot change this information, and changes made at the corporate office will happen ~once per day at most (and do not need to be immediately refreshed in the application).
About 2/3 of all database calls are to these static tables, so I am considering just moving them into a set of static objects that are loaded during application initialization and then refreshed every 24 hours (if the app has not restarted during that time). Total in-memory size would be about 5MB.
Am I making a mistake? What are the pitfalls to this approach?