GREENSBORO, N.C. — If the city council approves the proposed budget, it would be the second year, in a row, Greensboro residents will have to fork over more money in property tax.
Last year, there was a 9-cent property tax increase which increased the property tax on a $200,000 house by about $173
This years proposed 4-cent increase would tack on an additional $80 for that same $200,000 home.
Bringing the total to $253 in additional property tax -- in just 2 years.
The increase would generate an additional $60 million in additional revenue, but some worry about what it means for businesses and how it could hurt their ability to attract employees.
"Some people may consider making a move here if their tax rates are so high," said Jimmy Patel.
"I already know people who have said I've got to move to Summerfield or I've got to move to Kernersville or I've got to go someplace that is feasible to buy what I want or the property we need for our growing family," said Becca Crutchfield.
One question is - could another tax increase cause people to move out into cities with lower taxes?
Pam Carrigan with Remax of Greensboro says that is usually not the case.
"I think the people have made up their mind where they wanna live and that's what I tell people first and foremost is decide where you want to live and they will find a house that fits you where you want to live," said Carrigan.
Although tax rates may not make or break a deal, she says they do need to be taken into consideration.
"Each month you pay a portion and then your mortgage company will pay your taxes at the end of the year so that you don't have to think about it. But overall, you have got to think about the budget impact and what you qualify for." said Carrigan.
Although the proposed budget for Greensboro does include a tax increase, it also includes pay raises for all city employees, including police officers.
Earlier this year, Greensboro Police John Thompson shared that he needed a $57,000 starting salary to be competitive with neighboring agencies.