NC - Carteret County seeks 2-cent tax increase for FY2020-21
Anticipating more than $1.5 million in budget impacts from revenue losses due to the novel coronavirus pandemic,Carteret County is considering a 2-cent property tax increase for the upcoming 2020-21 fiscal year.
The increase would raise the property tax rate from 31 to 33 cents per $100 of assessed property value. It would be the first increase since 2016-17, when the county raised the rate from 30 to 31 cents. Even with the increase, the county would still have the lowest county property tax rate in the state.
County Finance Director Dee Meshaw presented the recommendation as part of the overall proposed budget to the Carteret County Board of Commissioners during the board’s regular monthly meeting Monday evening in Superior Courtroom 2 of the administration building. The yearly tax-and-spend plan must be adopted before the beginning of the new fiscal year, Wednesday, July 1.
“This was the hardest budget I’ve done in 25 years I’ve been doing local government budgets,” Ms. Meshaw said. “The economic shutdown really is what made this budget so challenging.”