In his report to the Town Council about his recommended fiscal year 2025-26 budget, Town Manager Cliff Ogburn gives three examples, based on different home values, of how much your annual property taxes will go up. They are as follows:
For a home valued at $602,100:
Annual tax at the revenue-neutral rate of $0.148= $891.11
Annual tax at the revenue-neutral rate plus 4-cent increase= $1.131.95
Percentage increase: 27.0 percent ($240.84)
For a home valued at $1,097,700:
Annual tax at the revenue-neutral rate of $0.148= $1,642.60
Annual tax at the revenue-neutral rate plus 4-cent increase= $2,063.68
Percentage increase: 25.6 percent ($421.08)
For a home valued at $1,620,100:
Annual tax at the revenue-neutral rate of $0.148= $2,397.75
Annual tax at the revenue-neutral rate plus 4-cent increase= $2,063.68
Percentage increase: 27.0 percent ($648.04)
Beach-nourishment taxes would be in addition to these taxes.
We did not include these figures in our earlier post on the budget because we thought we had hit number-overload. A comment from a reader pointing out the increase convinced us to add this sidebar report.
Thank you.
By Ann G. Sjoerdsma, The Southern Shores Beacon, 5/27/25
The Southern Shores Beacon 