Taxes are one of two certain things in the world.
Nobody likes paying them – but the NC Association of County Commissioners (NCACC) is working in opposition to House Bill 119 titled “Property Tax Relief for COVID Affected Businesses.”
The bill, which was filed in late February, would offer financial relief to struggling businesses by allowing owners to work out property tax payment plans rather than paying the entire bill by the due date. The bill also allows, in some cases, for a reconsideration of the property taxes owed if the value of the property has substantially decreased.
A recent statement from the NCACC states that the organization is against the adoption of the bill as it’s now written due to concerns of what it might mean for the revenue streams of counties in North Carolina.
“While businesses across the state are seeking relief for COVID-19 related losses,” the NCACC stated in a recent newsletter to North Carolina county officials, “property tax deferrals or waivers are not appropriate remedies.”
NCACC officials stated that they would continue to work with the bill’s sponsors to “find ways that counties can help support the business community” – but added that House Bill 119 wasn’t the right way to go about it. One of those sponsors is Rep. Jon Hardister (R-Guilford).
North Carolina’s county officials have been worried over how to address their costs associated with the pandemic – especially given concerns that their counties will take a hit from a decrease in sales tax revenue due to the pandemic’s negative effect on economic activity.
Guilford County, Mecklenburg County and Wake County got large payouts from the federal government’s first COVID-19 stimulus bill in 2020 to help makeup the gap, but the state’s other 97 counties didn’t get nearly as much relief.