North Carolinians will have the option to vote for statewide income and property tax limits this November, and Durham leaders are sounding the alarm bells that these constitutional amendments could affect their ability to fund public schools and other local services.
One proposed amendment on the ballot would lower the cap on the income tax rate from 7% to 3.5%; income tax revenue funds the state budget. The other amendment would direct the state legislature to limit local property taxes, which make up a large portion of municipal budgets, though a specific limit would be determined later through legislation.
Neither of these amendments, if passed, would cut taxes, but rather limit the amount that taxes could increase in the future. The legislators sponsoring the bills have said the measures will help alleviate constituents from a rising tax burden…