NEWS
Town Board Votes for 1 Cent Property Tax Increase
Tuesday night, June 9, Town Board meeting. (News of Davidson photo)
Following an unprecedented proposed change to the North Carolina Constitution that would limit municipalities’ ability to raise property taxes, at their last meeting the Town Board asked for an updated fiscal year 2027 budget recommendation from Town Manager Jamie Justice.
The original proposal was to leave the property tax rate at the current $.26.6 per $100 of assessed property value. Following that request from the Board, Justice provided an updated recommendation at Tuesday night’s Board meeting.
The Board announced in advance that they would open a public comment session before deliberating on the topic. Three residents spoke on the topic.
After many comments and questions, Commissioner Connie Wessner made the motion for the one cent increase.
Commissioner Steve Justus was prepared to raise the rate by two cents to make sure that our debt to revenue ratio was stable during the construction of Fire Station 1 without the need to divert funds from other needs or severely cut town services. In the end, he signaled that he would be willing to vote for the one cent increase to achieve consensus. Many commissioners noted that the fire station was a “need, not a want.”
Town finance director, Piet Swart, was called up to the podium multiple times to answer specific debt and budget questions raised by the commissioners. Maintaining the Town’s AAA Bond rating was a prominent focus of the discussion.
That increase will result in a $5.49 per month increase for owners of a $658,840 home (the median value in Davidson).
The Board and staff members also highlighted the Davidson Tax Assistance Program (DTAP), the program that helps offset taxes for residents who meet financial requirements.