The city staff went over what keeping the tax rate flat will mean to the average homeowner in Greensboro at the Thursday, May 26 City Council work session, and it isn’t pretty.
In 2021, the owner of a $100,000 home paid $663 in city property taxes based on the rate of 66.25 cents.
If City Manager Tai Jaiyeoba’s budget is approved by the City Council and the tax rate remains 66.25 cents, the homeowner of that same house will pay $861 in city property taxes in 2022 – an increase of 30 percent, or $198.
The owner of $200,000 house in 2021 paid $1,325 in property taxes in 2021 and in 2022, under the proposed budget, the homeowner of the same house would pay $1,723 in city property taxes – a $398 increase.
The owner of a $250,000 house in 2021 paid $1,656 in city property taxes and in 2022 would pay $2,153 in city property taxes – a $497 increase.
The owner of a $300,000 home paid $1,988 in city property taxes in 2021 and in 2022 would pay $2,584 in city property taxes – an increase of $596.
Those figures are from the city staff report presented at the Thursday, May 26 City Council work session and are based on the average increase in property in Guilford County of 30 percent. Some properties increased in value much more than 30 percent in the revaluation and some less than 30 percent.
The figures are only for city property taxes. The Guilford County Board of Commissioners has indicated that it also intends to keep the property tax rate at the same level, which means an increase in county property taxes for the average homeowner of 30 percent. Guilford County property taxes are 73.05 cents, so the Guilford County tax hike would be higher than the city tax hike, but if you live in Greensboro you have to pay both.
In addition, the budget proposed by Jaiyeoba includes a 40 percent rate hike for garbage and recycling pick up, from $2.50 a month to $3.50 a month, and a household hazardous waste fee increase of 45 percent, from 60 cents a month to 97 cents a month.
It also includes a brand new fee of $25 if the city rolls your garbage and/or recycling can back from the street.
And a water and sewer rate increase of 4.5 percent.
Fire inspection fees for businesses and multifamily residential developments are also being increased as well as development fees.
Planning Director Sue Schwartz also proposed a new fee of $155 for appealing a decision of the Planning and Zoning Commission to the City Council. Under the current system there is no fee for appealing a decision of the Planning and Zoning Commission to the City Council. This fee increase was not included in the staff presentation but was proposed by Schwartz at the work session.
The bottom-line is that if Jaiyeoba’s budget passes, it is going to be a lot more expensive to live in Greensboro.