GREENSBORO, N.C. — The Greensboro City Manager wants to raise property taxes. It's part of his $749,000,000 budget plan for the next fiscal year.
The plan includes a 4-cent property tax increase and a water rate increase of 8.5 percent.
The total budget would be $749,467,310 for the 2023-2024 fiscal year.
This is 8.8% higher than the 2022-2023 budget.
- 52% to Infrastructure
- 25% to Public Safety
- 10% to General Government
- 7% to Community Services
- 6% to Debt Service
The budget for next year has a property tax rate of 67.25 cents per $100 of assessed value.
When you do the math if your home is worth around 250,000 dollars -- you would pay about 100 dollars more.
If your home is worth 125,000 dollars, your taxes would be about 50 dollars more.
The growth rate from last year is approximately 1.75%
The proposal also includes a property tax relief program and water bill assistance options for low-income residents.
The plan still has to be approved by the city council.
There will be a public hearing on June 6th before any decision is made.
City council members also talked about a new plan to bring more jobs to town.
They approved incentives for Phase Change energy.
The city will give the company $1,000 per new job created.
The resolution does require the company to create at least 51 jobs and invest at least 4.1 million dollars.
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