Orange County NC Real Estate Tax Revaluation Update

Orange County Commissioners are clearly taking the heat if they are talking about whether they should rescind the new 2009 real estate property tax valuations.  In a work session last week, this was a major topic of discussion.  The Commissioners were clear that legally they ca not rescind the new tax valuations and if they did it would cause an even larger budget problem.

The Commissioners emphasized their commitment to implementing a tax rate “no higher than revenue neutral.”  We all know our taxes will go up.  I have been saying all along that they will go up but just not significantly. There would be a major public outcry if taxes were raised too high.  This is yet another time that our public officials have stated that they expect the budget to be revenue neutral.  This is important news!

I guess we will have to wait until June 2009 to find out for sure.