The JLF policy report "Johnston County's 'Dumb Growth' Plan: The Growth Management Committee Fails to Understand Basic Economics" itself fails to understand basic economics.
Higher Property Taxes. With the increase in the value of housing countywide, the next revaluation in 2011 will show a marked increase in property tax levels. This will pose a hardship on the elderly and others on fixed incomes.
Basic economics and basic property tax comprehension show this to be a false/incorrect statement. Especially when there is an "increase in the value of housing countywide," there is no overall relationship between the revaluation and the property tax levy. When revaluation is done, especially on an eight year schedule (the longest term legally allowed) it is almost 100% certain that the tax rate goes down. Some people's taxes will go up and some will go down. The County is required to publish a "revenue neutral" rate so people will know if net taxes are actually being raised. For example, if the tax base doubles in value, they have to publish the rate (half as much as before) that would get the government the same amount of money if the revaluation had not been done. That's not to say the County won't decide they need to raise taxes, but that's a separate issue and unrelated to a revaluation. The great minds at the JLF should know all this.
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