by Lisa Finaldi | Mar 14, 2016
Property Tax County boards of commissioners and city councils can raise or lower property tax rates in North Carolina, but they can only raise property taxes for specific purposes designated by the North Carolina General Assembly. Typically, property tax revenue...
by Lisa Finaldi | Mar 14, 2016
Local Sales Tax The local sales tax applies to most of the goods and services currently taxed through the state sales tax. (One exception is food purchases, which are taxed at a local rate of 2 percent, but are not taxed at the state level.) Counties can increase...
by Lisa Finaldi | Mar 14, 2016
Bond Local governments can issue bonds to secure funding for large-scale capital projects. Bonds are debt obligations issued by municipalities and counties. Investors purchase the bonds, and the municipality or county that issued it agrees to pay back debt...
by Lisa Finaldi | Mar 14, 2016
Item in a Municipal or County Budget A municipal (town, village or city) or county budget allocates funds to departments or functions. For example, the budget will provide a specific amount to the County Department of Social Services. Local governments cannot make...
