FY 2024-25 PROPOSED BUDGET FREQUENTLY ASKED QUESTIONS (FAQ) June 3, 2024 House Example Below is the property tax impact of the 3-cent increase on a $250,000 home: Home Value $250,000
Current Property Tax $1,543.75
Proposed Property Tax $1,618.75
Annual Change $75.00
Per Month $6.25
Tax Rate Fiscal Year FY 10 FY 11 FY 12 FY 13* FY 14 FY 15 FY 16 FY 17 FY 18* FY 19 FY 20 FY 21 FY 22 FY 23* FY 24 FY 25 (proposed) *Guilford County revaluation
High Point 63.30 63.30 66.20 67.50 67.50 66.40 65.00 64.75 64.75 64.75 64.75 64.75 64.75 61.75 61.75 64.75
Greensboro 63.50 63.25 63.25 63.25 63.25 63.25 63.25 63.25 63.25 63.25 66.25 66.25 66.25 63.25 67.25 67.25
Guilford County 73.74 74.74 78.24 78.04 77.00 77.00 76.00 75.50 73.05 73.05 73.05 73.05 73.05 73.05 73.05 73.05
Impact – Council Salary The below table shows the breakdown of the Mayor and City Council salary increases approved as part of the FY 2023-24 budget. Official Mayor City Council
FY 2022-23 Salary $15,000 $10,800
FY 2023-24 Salary $26,649 $20,307
Change $11,649 $9,507 Total
Total Change $11,649 $76,054 $87,703