The press release from the City of Greensboro on City Manager Tai Jaiyeoba’s recommended budget preview indicates a key piece of information won’t be covered at that press conference.

The budget preview will be from 4 to 4:30 p.m. in the Plaza Level Conference Room at city  hall just before the 5:30 p.m. City Council meeting in the Katie Dorsett Council Chamber, where Jaiyeoba’s recommended 2023-2024 budget will be presented to the City Council.

According to the press release, one piece of information that won’t be covered at that budget preview is the proposed property tax rate.

The property tax rate is the most important part of the annual budget.  While the city budget is amended at nearly every meeting of the City Council, the property tax rate remains the same throughout the year.

According to people privy to such information, the proposed property tax rate increase for the 2023-2024 fiscal year is going to be about 4 cents.  If that is in fact correct, that is much better than last year when the recommended budget had an equivalent of a 11.69 cent tax increase.  When the City Council balked at that enormous tax increase, through sleight of hand the tax rate was reduced to 8.69 without cutting any spending.

The current City of Greensboro property tax rate is 63.25 cents. Jaiyeoba’s recommended budget last year had a rate of 66.25 cents and a four cent tax increase this year would raise the rate to 67.25 cents.

According to the press release. Jaiyeoba in the presentation of his recommended budget will talk about:

  • Compensation increases
  • New staff positions
  • Continued maintenance and operations
  • Proposed user fee increases for water, sewer and solid waste services
  • Affordable housing
  • Transportation and infrastructure
  • Parking operations
  • Entertainment and recreation
  • Sustainability