GREENSBORO, N.C. — County leaders say they plan to lower the property tax rate after hearing concerns from neighbors across a series of community meetings. But even with a lower rate, many homeowners may see their tax bills increase.
At several town halls, Chair Skip Alston told residents the county does not plan to keep the current tax rate after property values jumped sharply in this year’s reappraisal cycle. Some homes saw increases as high as 50 percent.
Here’s why that matters: if the tax rate stays the same while home values rise, property tax bills go up. Lowering the tax rate can offset those higher values, but only if it’s reduced enough to balance things out…