On Friday, March 8th in a special meeting of the Waxhaw Board of Commissioners, Randall Arendt (Fellow of the Royal Town Planning Institute) from Greener Prospects was brought in as an expert, and unexpectedly commented on taxes and residential development. He stated that “you never get more tax dollars from development unless it’s non-residential”. However, […]
property tax
The Vicious Waxhaw Circle
As local property taxes go up, long-time residents with land may not be able to afford them. Over time they end up selling their land and moving away. This paves the way for higher-density development and higher population. The increased population boosts town revenues, and elected officials tend to find a way to spend it […]
20% Property Tax Hike
On July 22nd, 2021, the BOC voted for a budget which did not compensate for the enormous rise in property values post-revaluation. The revenue neutral rate of 32 cents for every $100 of value was ignored. By maintaining the rate of 38.5 cents, property tax revenues subsequently shot up by about 20%. To justify this, […]