Greensboro City Manager Trey Davis is proposing a rate of 58.3 cents per $100 of assessed value, a roughly 9-cent reduction in the property tax rate. But the rate is not low enough to offset recent sharp increases in property values.
Davis told council that keeping tax revenue flat for next year doesn’t make sense.
“It is not effective to recommend revenue-neutral,” Davis said. “This is a balanced recommendation that you have before you that lowers the rate while recognizing that maintaining services and meeting ongoing obligations requires more revenue than the revenue-neutral approach would provide.”…