City Manager Wanda Page presented her proposed FY2022-2023 budget at tonight’s City Council meeting, which contains a property tax rate increase to help support the restoration of merit-based employee compensation as well as public safety and shared prosperity initiatives.
Page recommended a proposed property tax rate of 55.77 cents per $100 of assessed value, which is a 0.6 cent tax rate increase from the previous fiscal year’s rate of 55.17 cents.
If approved by the City Council next month, the proposed tax rate will generate a City of Durham property tax bill of about $1,311 per year, or about $109 per month, on a house valued at the median house value of $235,133 according to the Durham County Government Office of Tax Administration.
To read more details, including how you can share your thoughts during the June 6 budget public hearing, visit https://www.durhamnc.gov/CivicAlerts.aspx?AID=3175.
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