10/29/2023
I believe The City of Randleman should have cut your taxes, but they didn't, one of the many reasons I believe it's time for a change. Let's break down what's happening in simple terms:
Reevaluation: This past year was a re-evaluation year for Randolph County, resulting in an average increase of approximately 29% in property values. For most city residents, this means higher taxes this year due to these re-evaluation changes.
If you're unsure about your property value or how much your taxes have increased, you can use the following steps to check:
1. Visit Randolph County's GIS Website. (https://gis.randolphcountync.gov/randolphts/)
2. Search for your address.
3. Click on "Tax bill," located under your name and address in blue. (This will open in a new window.)
4. The first bill on the list is for the current year (2023), and the second is for the previous year (2022). Compare the totals to see how much more you paid.
If you encounter difficulties or have further questions, you can reach out to Randolph County's tax department through the means available on their website HERE (https://www.randolphcountync.gov/335/Tax).
With these significant increases in property values, totaling approximately $866,183 or more in additional revenue for Randleman, it's essential to understand the impact on your taxes.
Collection Rate: The city estimates it will collect around 96% of the taxes, which is approximately $831,536. However, a more realistic estimate might be 98%, equaling $848,860 or more. Despite property values going up almost 30%, the city shows only about a 3% increase in revenue.
Source: page 4 of the City of Randleman's Adopted Budget (https://cms9files.revize.com/randlemannc/FINAL%20BUDGET%20MESSAGE%20FY%2023-24%20FY%2024%20-%20June%20%2027%202023.pdf)
County Collection: Randolph County, responsible for collecting these taxes, will likely collect 99% of the money, around $857,521 or more.
Source: page 2 and 4 of Randolph County's Settlement Report (https://www.randolphcountync.gov/DocumentCenter/View/1426/Tax-Department-Fiscal-Year-Settlement-Report-PDF?bidId=)
Fire Tax: The city also collects a county fire tax, which will increase by about 29%, or approximately $203,000 or more.
Source: page 335 - 337 of Randolph County's 2023-2024 Fiscal Year Budget (https://www.randolphcountync.gov/DocumentCenter/View/2690/2023-2024-Fiscal-Year-Budget-PDF)
Total Increase: When you add up the increases in property tax and fire tax, the city will receive about $902,690 or more.
Budget Discrepancy: Looking at the city's adopted budget this year, it appears there was a miscalculation in projected revenue. Property tax should be around $3,691,634 (using the more realistic 98% collection rate), not $3,000,000.
Source: page 9 of the City of Randleman's Adopted Budget (https://cms9files.revize.com/randlemannc/FINAL%20BUDGET%20MESSAGE%20FY%2023-24%20FY%2024%20-%20June%20%2027%202023.pdf)
The fire tax should be around $893,511, not $700,000. This indicates an extra $885,205 or more in revenue that the city didn't account for.
Budget Decisions: The city decided not to lower taxes despite having this extra money, all while maintaining the same level of service. This raises questions about their financial decisions and why they didn't reduce taxes, especially considering the recent water rate increase.
In simple terms, the City of Randleman is receiving more money due to higher property and fire taxes, but the current city council chose not to cut taxes, even though they had the means to do so. This has led me to question their financial decisions, why the current board members up for re-election Mr. Mike Dawkins or Ms. Renee Bryant haven’t questioned this, and how the citizens feel about Randolph County’s decision to lower its tax rate but Randleman desire to maintain theirs. Something is not adding up and WE (the citizens) are the ones paying the bill.