Property Tax Rate Could Increase Nearly 39% in Two Years
Posted by ryan on February 20, 2008
There is a ton of stuff for Guilford County residents to speak out against during Thursday night’s County Commissioners meeting.
The N&R has compiled a quick and easy guide to what will be discussed,
Eastern Guilford High School
How much: $45 million
Would buy: A new high school, which is already under construction, to replace the one that burned in 2006.
Why: Most seem to agree that the high school needs to be built, and this bond might have the most public support.
Why not: Those opposed likely are against any bond or tax-rate increases. For any bond passed, there likely would be an increase on the property tax rate. Taxes for the owner of a $200,000 home went up about $60 in the 2007-08 budget . The owner of that same house would see that tax bill increase $58 next year and then another $97 in 2009-10 if all of the bonds passed (38.7% - I added the percentage).
Notable: Commissioners promised to find the money to rebuild the school. They also asked the school board to make the money request into a bond proposal that could go to voters. Then, when it was part of a total package including $412 million for other school projects, the commissioners pulled it out for a separate referendum.
Read more here.
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