Higher taxes now or later?
That's the question High Point City Council will ponder now and in the coming weeks as they grapple with how to pay for $73.65 million in bond projects approved by voters last November.
Council members took a look at two options at a Tuesday briefing: raise taxes 3.9 cents per $100 of assessed value next year (fiscal 2006) or raise taxes a total of 5.1 cents per $100 of assessed value from fiscal 2007 through fiscal 2009. For the owner of a $200,000 house, that would add $78 or $102 to their tax bill, depending on which option is chosen. The upfront option costs less because the city would be able to invest some of the money earmarked for the bonds before spending it to issue the bonds.
My full story is here.
So let me pose this question to my fellow High Point residents: which option do you prefer and why?