![]() Steady growth in real property and motor vehicle taxes, robust sales and occupancy tax collections, and increases in other State-shared revenues helped to provide funding needed for expanded public safety initiatives, increased transportation support, well-deserved employee compensation as well as $17 million in new projects to improve open spaces and infrastructure in previously disinvested neighborhoods, which typically have been communities of color.įunding for 61 new full-time positions is provided to increase staffing resources for the work of 11 departments. This tax rate will generate a City of Durham property tax bill of about $1,364 per year, or about $114 per month, on a house valued at $244,538, which is the median house value for the City of Durham according to the Durham County Office of Tax Administration. ![]() The property tax rate of 55.77 cents per $100 of assessed value will remain the same as last year’s adopted budget. The total adopted budget is $610 million, which is a 6.95% increase from last year’s adopted budget, primarily due to General Fund increases for personnel expenses and increases to the Capital Improvement Plan (CIP) for street paving and other projects. Budget expands public safety, transportation support, and enhanced and equitable green spaces as well as increases employee compensation. ![]() No property tax rate increase rate remains 55.77 cents per $100 of assessed value.Budget Does Not Include a Property Tax IncreaseĮarlier tonight, the Durham City Council approved the City of Durham’s FY2023-2024 budget, which does not include a property tax rate increase for city residents. ![]()
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