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"That would even out property values, but it wouldn't necessarily raise any more money, as WakePol wrote in today's paper. That's because counties usually lower the tax rate after reassessments." (emphasis mine)
Now, if assessments go up 32% they may not lower the tax rate 32%, but they will very likely lower the tax rate significantly. Areas that appreciated significantly more than average since the last assessment will see taxes rise in total.
This has been the trend in Durham at least if you look at historical millage rates.
Let's all try to be civil in this and every thread, BTW.
Here's my source: www.newsobserver.com/167/story/444798.html (broken link) . I'd like to point out that the two sources quoted by you (NC Man) are not accredited news sources or held accountable to the rigors of same. They're free to say (and apparently often do) anything they wish.
And shouting in either the physical or digital world does not make you any more right. Offer a compelling counter point beyond a nebulous "it's been said" and I'll happily consider your point. However in looking up your various posts you seem to subscribe to the theory that Raleigh is going to hell in a hand basket due to the steady influx of transplants. I don't get your angst; are they all moving into your back yard?
I didn't realize that Cary has LOWER taxes than somewhere like Chapel Hill!
You get what you pay for. The liberal communists in Chapel Hill have sufficient funds for schooling their children. Capitalist pigs in Wake, not so much.
I thought that Cary was the most expensive area in the Triangle. I know Chapel Hill has some very upscale areas, but so does Wake county--north Raleigh, etc.
"That would even out property values, but it wouldn't necessarily raise any more money, as WakePol wrote in today's paper. That's because counties usually lower the tax rate after reassessments." (emphasis mine)
Now, if assessments go up 32% they may not lower the tax rate 32%, but they will very likely lower the tax rate significantly. Areas that appreciated significantly more than average since the last assessment will see taxes rise in total.
This has been the trend in Durham at least if you look at historical millage rates.
Let's all try to be civil in this and every thread, BTW.
Yes that is correct, in the past it was reduced after revalued, but the Blue ribbon comm has recommended that does not happen in 2008.
I thought that Cary was the most expensive area in the Triangle. I know Chapel Hill has some very upscale areas, but so does Wake county--north Raleigh, etc.
Chapel Hill is more expensive and has the highest funded school system as well.......
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