The looming threat of state-level restrictions on local property tax hikes has thrown Elon’s municipal leaders into a frenzy of brainstorming as they struggle to balance the books with the diminishing sources of revenue at their disposal.
The members of Elon’s town council ultimately bandied ideas ranging from new service fees to staffing reductions on Tuesday as they braced themselves for a potential change to the state constitution that could limit the ability of local governments to jack up their property tax rates.
Last month, this prospective amendment received an endorsement from a select committee of North Carolina’s state house that has been convened to address property tax reduction and reform. On Wednesday, the members of this same 29-person committee lent their support to a proposed referendum on November’s ballot that would be necessary for this prospective constitutional change to take effect…