Senator Berger to Introduce 12-month Property Tax Revaluation Moratorium
Raleigh, N.C. — Senate Leader Phil Berger (R-Rockingham) announced today that he intends to file a bill during the legislature's "short session" in April to halt all property tax revaluation changes for 12 months to ensure the legislature can examine and adopt needed property tax reforms. This action will pause any proposed property value adjustments prompted by a county property tax revaluation.
Across the state, ongoing local government revaluations have homeowners bracing for potential massive tax increases. For example, in Guilford County, residents report their property values could skyrocket by 40 to 60 percent if the county's proposal is allowed to go forward.
"North Carolinians are shouldering the burden of massive increases in local budgets," Sen. Berger said. "It doesn't matter to our citizens if a tax is paid to the state or a local government; it's their money coming out of their pockets. A moratorium will be the first step in making much-needed reforms to property taxes in our state."
Sen. Berger's proposal to issue a 12-month moratorium follows his decision to tap several members of the Senate Republican Caucus to examine property tax reforms during the interim and upcoming legislative session.
Since 2011, Senate Republicans have provided North Carolinians with significant tax relief by slashing the personal income tax rate from a peak of 7.75% to 3.99% and moving the zero-tax bracket from $6,000 to $25,500. These transformative changes were made possible through responsible budgeting at the state level. Senate Republicans believe the same principles can help address the rising burden of local property taxes.
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