High Point leaders are considering a new property tax relief program for low-income homeowners as part of next year’s budget.
The program would cover up to half of a homeowner’s city property tax bill. To be eligible, residents would need to have owned a single-family home in High Point for at least five years, and the property’s assessed value would have to be under $250,000.
Officials say the initiative could mirror similar tax relief efforts already offered by Guilford County and Greensboro.
The proposal comes amid growing concern over rising local taxes.
Even with the rate cut in High Point’s budget plan, many homeowners would still see larger bills because of increasing property values — the same challenge facing municipalities across the Triad after recent revaluations.