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As we have reported multiple times, revaluation doesn't necessarily mean a tax increase.  Tax bills are based on a combination of the value of properties and the tax rate.  In the case of Gaston County, the proposed tax rate for fiscal 2024 is the lowest since 1970.  But many Gaston property owners will still see a bigger tax bill when notices are sent out in July.

The average increase in Gaston County property values by the 2023 revaluation was over 50% according to the County Tax Office; but some areas saw larger increases, many 75% or more.  So the reduction in the County tax rate from 81 to 60 cents (a little less than 24%) doesn't mean their property tax will be going down.  

County Manager Dr. Kim Eagle, in her report to the April 25th meeting, said the $414 million 2024 budget ($322 of which is the General Fund) will rely in part on growing sales tax revenues.  She estimated $187 million will come from property taxes, $35 million from fees, licenses & permits, and $72 million from sales taxes.  The budget proposal includes 23 new County employees, four of whom will be paid for entirely by County funds.  County employees will get a 3% raise--but not until next January--whch averages out to 1.5% for the year.  Gaston County Schools will get a one million dollar increase in their County operating funds--two million less than they requested.  Gaston College will get $5.9 million in operating funds--a $100,000 increase.  $31.9 million in capital improvement projects are planned.

The 60-cents tax rate is less than a revenue neutral rate of 62.1¢.  That's not the total bill County taxpayers will be paying, however.  Gaston County recently did away with separate fire district taxes, choosing instead to have a Unified Fire Districts tax.  A hearing on that proposed levy will be held at a May 25th meeting.

Those who want to view the proposed Gaston County Budget can do so at the main Gaston County Library on E. Garrison Blvd. in Gastonia--in person or online--until May 9th.  Next Tuesday, the Commissioners will hold a public hearing on the proposal at the County courthouse.  

Commissioner Bob Hovis pointed out after Dr. Eagle completed her presentation last Tuesday that the increase in taxes following revaluation isn't 'a money grab.'  "The County will collect about 6% more in property taxes with the new values and the 60 cents rate," Hovis said.  "Some people will have a bigger increase--my property was revalued at over 100% more than in 2019."

As in other area counties, those who live in cities and towns will also have a city tax bill, and those rates will be decided by the various town boards.

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