Winston-Salem homeowners will see a property tax increase next year under the city’s newly approved budget.
The average homeowner is expected to pay nearly $100 more annually in property taxes. Council member Robert Clark emphasized during Monday’s meeting that the increase won’t fund new services, but will instead allow the city to maintain current service levels as other funding sources dry up.
“We only have one knob we can turn to generate revenue, and that is property tax,” Clark said. “So when, for example, when the fund balance is zero, where do we get the money from? It has to come from property tax. We have no other place.”
The final rate is slightly lower than originally proposed. Staff reduced spending on city salaries, public transit, and the Benton Convention Center to bring the hike down by eight-tenths of a cent. The new budget takes effect July 1.
Separately on Monday, city officials delayed a vote on a proposal to reduce the amount of vacation time Winston-Salem firefighters can accrue. City leaders said the change is intended to align benefits with those in peer municipalities. The firefighters’ union disagreed, packing the meeting to protest the measure.
Council members ultimately agreed to postpone the decision until August to allow for more public input.