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We have been planing a move to NC for the past few years, now we've sort of got cold feet. We are from Long Island and the main reason we want to move is because we cannot afford to buy a home here and the taxes are outrageous. Now everyone keeps telling us NC taxes are going up and I am afraid in the next 5-10 years taxes in NC could be the same as here in NY. My questions is do residents there feel that taxes are always increasing? Is there any fear of rising taxes. I am not talking a couple of hundred of dollars every year, we are more concerned of with like a thousand dollar tax increase in one year. We are looking in the Cary/Morrisville/Apex area.
Tax rates have just been reduced. I just saved over $700 on my bill. I have no concern about the rates moving up to the degree you are concerned about. In fact, I do not think they are high enough. I really don't want our leaders penny pinching. If projects need to be done, I would prefer to pay for them now and get them done.
I moved from LI 6 years ago. When we left the taxes on my LI home were 5200.00. I recently checked what the taxes are now, 8600.00 , a increase of 3400.00. My NC taxes only went up 200.00 in 6 years for our home in Cary. I don't think you have anything to worry about.
That type of increase is simply not likely here.
Long Island is not a growth area-it's pretty much as developed as it's going to get. The tax base is fully grown.
Wake is still adding residents and new businesses-not at the same rate it was, but growing nonetheless. Growth spreads the tax liability out over a larger base of taxpayer base, helping to keep taxes on a more even keel.
At the same time Wake is in a tricky position with infrastructure funding, and at some point we will need to step up funding for road and school construction. Hopefully there will be a balance struck.
Yes, even if taxes rise in NC, they are much, much lower than NY. Why do you think so many yanks are moving down here?
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