Will Tax Increase Affect Development?

[Raintree21]

Since no one has posted anything yet about the proposed tax increase, do you think that this 9% tax hike will scare people away from buying new homes, especially the expensive uptown condos?

[atlrvr]

Not really......people who chose to live an urban life already are willing to pay a premium.....it's the people who are debating living in the lower-priced suburbs that would likely move out.....which is fine with move.....it's because of these starter homes in low density suburbs that my property taxes are going up anyways.

[peaceloveunderstanding]

a great deal of people don't even pay property tax, they should be fined and the money should be collected from them instead of raising the tax for the honest person.

[Raintree21]

While the increase in the amount of people living in the outer limits of Charlotte are part of the reason why we need more police and firefighters (2 of the 3 main reasons listed for the tax hike), they are also why there has not been a tax raise in 18 years. The city has been able to annex enough people each year and use that tax revenue to pay for services.

[dubone]

The tax increase is $48 dollars a year for a $200,000 home... (which many uptown units are assessed at, roughly)... and if development is seriously affected by a measly four bucks a month, (for cops and roads, no less)...then the market likely would have slowed down without the increase.

I think much of this increase will pass, considering it is for public safety and streets, but of which improve quality of life/property values.

[monsoon]

Nope. Peeps that can afford those prices don't worry about property taxes.

[dubone]

a great deal of people don't even pay property tax, they should be fined and the money should be collected from them instead of raising the tax for the honest person.

<{POST_SNAPBACK}>

i've never heard of this. How common is this?

Property tax (for homes) should be one of the easiest things to tax, because the city/county have an index with all properties, and they themselves set the tax values. then it is just a matter of seeing if they've paid or not. How simple is that!

[atlrvr]

Well they know if you payed or not, they just don't have the time or manpower to enforce it.....however, this year they smartened up and sent a list of delinquent payers to NC Dept. of Revenue, and income tax returns will be used to pay off property taxes.

[Raintree21]

Some cities have started a controversial program where they give repo men access to online data banks of delinquent taxpayers. They enter your license plate into their computer and if you haven't paid up, they tow your car. You can get it back when you pay up. For some strange reason, those cities saw a dramatic increase in the amount they received in income.

[Raintree21]

We're not the only ones:

Durham Leaders Propose Property Tax Hike

DURHAM, N.C. -- Durham city leaders are talking about a $107 million bond referendum that could hike property taxes by nearly 10 percent.

The money would pay for maintenance on city buildings, as well as improvements for parks, sidewalks and roadways.

Under the latest proposal, the bonds would be paid for with a property tax increase that would add $570 to the tax bill for a $100,000 home.

Water and sewer rates would also rise.