Greensboro, NC -- Just when it seems the economy's about to get going again, something else threatens to take more of your money.
Two local governments are looking at property tax increases which could impact your bottom-line over the next two years.
Guilford County just finished re-assessing people's property values.
Winston-Salem will revalue properties next year.
Both governments propose tax increases to cover expected revenue losses from the drop in property values.
In Winston-Salem, it could be as much as 9.75 cents divided up over two years.
Guilford County is looking at a 4 cent increase this year.
But one Guilford County Commissioner is against any tax increase.
Vice-Chair Kirk Perkins said last year's tax increase is enough for now.
"I think we need to recover and I think we are headed that way I think our sales tax revenues are starting to increase. I think the real estate market is improving, but it's a gradual movement. So, we need to be careful that we don't put too much burden back on the economy," said Perkins.
Guilford County Commissioner Chairman Skip Alston disagrees.
He said some type of tax increase is needed because in 2008 voters approved $651 million in bonds to build new schools and the new jail, and with tax revenues down, the county may not be able to service that debt.
Alston said the tax increase is the only way to pay for the bills that are coming due on those bonds.
Both Winston-Salem and Guilford County leaders will begin debating their budgets over the next couple of months.
WFMY News 2