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33 <br /> be used as the standard for evaluating the merits of <br /> legislation coming before the General Assembly. <br /> • <br /> Municipal Revenues <br /> Preserve local tax structure <br /> • 0 As its first priority, the League strongly supports <br /> preservation of the current local government tax <br /> structure, since it provides stable revenues in a balanced <br /> President manner. The League will support modifications <br /> Council Member Ella Butler Scarborough, which enhance the ability of municipalities to meet the <br /> Charlotte needs of their citizens, but will oppose modifications <br /> that do not observe basic tax equity principles or that <br /> Fu-st Vice President erode local revenues. <br /> Mayor Becky Smothers, High Point <br /> Preserve local property tax <br /> Second Vice President 0 The property tax is the only major revenue source <br /> Mayor Lucius Janes,Wendell subject to the control of elected municipal officials, and <br /> thus is the foundation of municipal finance. The <br /> Third Vice President League will oppose proposals to abolish the property <br /> Mayor David E. Henson, Franklin tax or erosion of the property tax through additional <br /> exemptions and preferential classifications in the <br /> Immediate Past President <br /> Mayor Pro Tern E. H. (Alex) Alexander, property tax base unless otherwise provided by League <br /> policy <br /> Red Springs <br /> Replace revenues fully <br /> 0 If revenue sources are repealed, lost revenues must <br /> be replaced under a hold harmless formula which will <br /> replace revenue to all municipalities on a <br /> North Carolina League of Municipalities dollar-for-dollar basis with an adequate growth factor. <br /> P.O. Box 3069, Raleigh, NC 27602 The League will seek new revenue sources to replace <br /> (919) 715-4000 Fax: (919) 733-9519 repealed and/or reimbursed revenue sources. <br /> Equitable distribution of local revenues <br /> 0 The League supports the current distribution <br /> methods for existing local revenue sources, but will <br /> oppose legislation that would distort the distribution of <br /> existing revenues and have some municipalities gain <br /> revenues at the expense of others. <br /> 2 3 <br />