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How A Neutral Revenue Rate .Impacts Tax Bills <br />• Properties with value increases at or below 16% <br />would have no tax increase at the .86 cents rate <br />-Approximately 9,134 properties <br />• Properties with value increases between 16% <br />and 24% will have tax increases between 0 and <br />6.85% at the .86 cents rate <br />-Approximately 16,423 properties <br />How A Neutral Revenue Rate Impacts Tax Bills <br />• vvhen the revenue neutral flax rate is applied, property <br />tax bills for personal property such as cars, motorcycles <br />.and mobile homes will decrease. <br />• staff anticipates vehicle, personal and public utilities <br />property valuations to continue to decline. <br />Fewer new motor vehicles are being purchased <br />~- Purchases of other personal property, ,boats, business <br />computers, etc, are being deferred <br />• In addition, the NC General Assembly has created new <br />tax exemptions that will erode the local property tax <br />base. <br />5 <br />