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Nags Head commissioners opt to include 1.2‑cent tax increase in FY26 budget to blunt shared‑revenue loss
Summary
At a May 21 budget workshop, Nags Head commissioners agreed to include a 1.2¢ tax increase in the FY26 recommended budget—partly dedicating half a cent to beach nourishment—to offset a projected county shared‑revenue shortfall driven by neighboring towns' proposed rate hikes.
NAGS HEAD, N.C. — At a May 21 Board of Commissioners budget workshop, town leaders agreed to include a 1.2‑cent tax increase in the FY26 recommended budget to reduce the financial impact of a projected drop in county shared revenue.
The board’s manager presentation showed the county’s recent property revaluation raised Nags Head’s assessed value by about 59%, putting the town’s total assessed value near $5 billion. The manager said the revenue‑neutral tax rate after revaluation was 20.87¢ per $100 of assessed value; the published recommended FY26 rate had been 22¢. “We now expect to lose about $420,000 in shared revenue because of the substantial tax increases from the other towns,” Andy said, naming Kill Devil Hills as one jurisdiction proposing a large increase.
Why it matters: the town receives a large portion of its operating budget from shared revenues — occupancy, sales and land‑transfer taxes distributed across towns — and those allocations lag one year behind levy changes.…
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