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Nags Head manager proposes 22¢ tax rate, flags revaluation, insurance and inflation pressures
Summary
Town Manager Andy presented a recommended FY2025–26 budget proposing a 22¢ tax rate per $100 assessed value (above the revenue‑neutral rate), citing revaluation effects, declining shared revenue, a major health insurance pool change and rising capital costs due to inflation.
Town Manager Andy presented the recommended FY2025–26 budget to the Board of Commissioners on May 7, explaining decisions driven by the county revaluation, shared revenue trends, health insurance changes and inflation.
Andy said the county’s revaluation produced a revenue‑neutral rate of 20.84¢ per $100 assessed value; the recommended town rate is 22¢ per $100, described in the presentation as a 1.13¢ increase over the revenue rate that will…
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