Tax cut in Charlotte
After a big tax increase last year, Mecklenburg County cut property taxes for 2006-07.
From the Charlotte Observer: "The reduction, (county commissioners) say, is possible because of an increase in the value of property in the county, because of proceeds expected from the lottery, and because they are putting less money into a pay-as-you-go savings account for construction."
Mecklenburg's pay-as-you-go account allows the county to pay for some construction with cash instead of debt. The account is similar (sort of) to the Legacy Fund proposal that's been kicking around Guilford County for years.
Speaking of Guilford, commissioners have increased property taxes four of the past five years, and the county manager has recommended another tax hike for next year.
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