Proposed Greensboro Budget Includes First Property Tax Increase In Over A Decade
Greensboro residents haven’t seen a property tax increase in more than a decade, but that could soon change.
The new budget proposed by Greensboro City Manager David Parrish calls for a 3-cent tax increase, to just over 66 cents per $100 property valuation.
That translates to roughly $45 more a year for the owner of a home valued at $150,000.
The News and Record reports this would be the first property tax boost in 11 years.
Parrish says one reason driving the proposed increase is the need to keep up with city infrastructure repairs.
Parrish also points to the impact of continuing cost-of-living pay increases for city employees, and a phased-in wage increase for seasonal workers.
The budget’s single largest category is running the city’s water and sewer system. One new expense to be added later in the fiscal year is the operation of the Steven Tanger Center For The Performing Arts.
City council will hold a public hearing on the proposed budget at its June 4 meeting.