New analysis: Property tax proposal would save average homeowner $7 a month
New analysis from the NC Housing Coalition confirms what we knew about the proposal to put stricter limits on property tax collections in the state Constitution through a ballot measure this fall: It won’t deliver relief to homeowners struggling with unaffordable property tax bills, but it will significantly reduce local governments’ ability to deliver services that make our lives better.
If this proposal passes, local governments will lose at least $950 million in revenue that funds emergency response, public school teachers, parks and recreation programming and libraries, election administration, and so much more.
Meanwhile, according to the analysis, the average homeowner would save just $84 a year — or $7 a month.
The NC Housing Coalition’s analysis is a conservative estimate that doesn’t assess the impact on every municipality. Still, it illustrates the stakes. For relatively little savings for the average homeowner, communities across North Carolina could lose substantial resources for the things that shape our everyday lives —from the schools in our neighborhoods to the main streets where we shop.
We can come together to fund the things that make our communities strong and make sure that people have what they need to get ahead and secure the shared prosperity that we all deserve. When arbitrary limits get placed on the ability of local communities to put their budgets together with the revenue that they need to meet rising costs, we aren’t just putting programs and services at risk. It makes it harder for communities to invest in the things that help people build good lives, stay connected, and thrive together for years to come.
