As you do your financial planning for the next few years, there’s one large cost that you should plan on: A hefty increase in the property taxes that you pay in Guilford County.
It’s true that the coming tax increase will come on the heels of 2022, a year when many county residents saw their property tax bills jump 25 or 30 percent as a result of the countywide property revaluation.
In 2022, property values had jumped tremendously from previous years, and that dramatically increased the cost of property tax bills because the Guilford County Board of Commissioners decided not to adjust the tax rate downward to account for the increased property values, but instead decided to leave the tax rate at the same level and take all that newly generated money and spend it…