North Carolina House Holds Committee Meeting To Identify Property Tax Proposals

Today, the House Select Committee of Property Tax Reduction and Reform held its committee meeting, which signaled support for “levy limits” to address rapidly increasing property taxes.  

Speaker Destin Hall said, "Property taxes are out of control. Families are getting ripped off as some, but by no means all, local governments rake in billions more than inflation and population growth warrant. It’s time for real reform, which is why the House is pursuing solutions like levy limits to stop runaway property tax hikes and protect North Carolina taxpayers. I thank the chairs, led by Rep. Julia Howard, of the House Select Committee on Property Tax Reduction and Reform for their continued hard work." 

Earlier this month, Republicans in the North Carolina Senate formed a working group to look at the issue and proposed a property tax moratorium bill. Recent analysis from the John Locke Foundation shows that property tax revenue has increased by $2.7 billion over the last decade.  

The proposed levy limits would prevent local governments from increasing total property tax beyond a certain threshold, likely tied to inflation and population growth. States with level limits generally allow for large increases only under certain circumstance, often requiring voters to approve it via a referenda.