When to hike taxes?
That's the question High Point City Council will wrestle with as they determine how to pay for the $73.65 million in bond projects approved by voters last November. The projects include new recreation centers, several road widening projects and a renovated and expanded library.
My report from last night's City Council briefing on how to pay for the bond projects is here.
City staff recommended a 3.4-cent tax increase next year to begin paying for the bonds and building the projects over seven years. That option would add $51 to the tax bill of the owner of a $150,000 home.
Other options presented to council would postpone tax increases to future years and spread the increases over several years - but the tax increase would be higher.
Which option do you prefer? A tax increase next year or tax hikes spread out over several years in the future?