Triangle Briefs

Carrboro raises tax almost 5 percent

From Staff ReportsJune 5, 2008 

— The Carrboro Board of Aldermen approved a budget Tuesday night that increased the town property tax rate by 3.26 cents, almost a 5 percent increase.

The tax rate for fiscal year 2008-09 will be 68.63 cents per $100 of assessed value. That means an owner of a house valued at $200,000 would pay $1,372.60 in town property taxes.

Town Manager Steve Stewart originally proposed a tax rate of 68.6 cents per $100. But the board decided to give the Orange Community Housing and Land Trust an additional $8,000 next year -- as it requested -- on top of the $26,000 the board had allocated the previous year. Stewart had originally recommended giving the Land Trust an additional $4,000.

The town budget is now at about $18.5 million.

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