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DURHAM, N.C. (WNCN) – The budget recommended for the City of Durham would include a 2-cent raise in the property tax rate — most of which would go toward an affordable housing bond voters passed in 2019, a news release said Monday.
The budget was recommended by city manager Wanda Page at Monday’s city council meeting.
Of the 2-cent increase to the property tax, 1.38 cents would service the debt from the $95 million affordable housing bond. Another 0.50 cents would fund green and equitable infrastructure projects. The remaining 0.12 cents would go toward the general fund, the release said…
