WINSTON-SALEM - People in the city of the Winston-Salem can voice their opinions Tuesday night on a proposed property tax increase.
The proposed city budget includes a 4.2-cent increase on property taxes. If the increase passes, the property tax will be 51.7 cents for every $100 of assessed value.
If a person owns a $120,000 home, they would pay around $620 in property taxes per year. With the current property tax rate, the same household would pay about $470 per year. This is a $50 difference on home valued at $120,000.
The city wants one part of the tax increase revenue to go toward a new bus service on Sundays. Officials want the other two parts to go toward city operations and the replacement of the discontinued state reimbursement revenue.
The public hear is Tuesday night at 7 p.m. in the Winston-Salem City Chamber of Commerce.