FY2007-08 Property Tax/Budget Adjustment information available

The enclosed report provides information on property tax rate changes for all 549 North Carolina municipalities. This report also provides information on the actions made by 520 municipalities that responded to an NCLM survey to balance budgets for FY2007-2008.

Managers, elected leaders, and staff can all use this information to understand trends in local government finance. This information can also be used to make tax rate comparisons with municipalities of similar size. For the first time, this NCLM report provides information on revenue-neutral tax rates for municipalities in counties that revalued in 2007. It is important to note, however, that property tax rates hinge on many factors (i.e. services offered, the value of the tax levy, revaluation cycle, and the amount of commercial property). These and other factors should be considered when benchmarking property tax information.

We appreciate the efforts of everyone who responded to your League's survey. Please review the results for your municipality and let Shawn know of any corrections at (919) 715-3934.

-Click HERE for the introductory memo.

-Click HERE for Excel spreadsheets that hold property tax rate and budget adjustment data.