Property taxes likely to go up on July 1 - Winston-Salem Journal: News

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Tax hike Property taxes likely to go up on July 1

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Posted: Monday, January 14, 2013 11:00 pm

Property-tax rates in Winston-Salem will likely go up in the fiscal year starting July 1, according to city officials.

Members of the Winston-Salem City Council’s finance committee said Monday that the city’s property-tax rate would likely have to be increased to make up for an expected $8 million shortfall in revenues from property taxes. According to the city budget, nearly $104 million in property-tax revenue this fiscal year ending June 30 will make up 26 percent of city’s $392 million budget.

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