THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Wednesday, March 22, 1995 TAG: 9503220275
SECTION: LOCAL PAGE: B1 EDITION: NORTH CAROLINA
SOURCE: BY ANNE SAITA, STAFF WRITER
DATELINE: CURRITUCK LENGTH: Short : 47 lines
The price to sell property or eat out may go up in Currituck County.
The Board of Commissioners on Monday evening voted to move forward with local legislation that, if approved by the General Assembly, could eventually lead to an increased land-transfer tax and a new meals tax.
Authorization to impose an impact fee on lots sold in new developments also is part of the county's legislative package to be given to Rep. W.C. ``Bill'' Owens, D-Pasquotank, by today.
Owens will then introduce the proposals on the floor of the House of Representatives, where they will be assigned to a committee for deliberations.
``There are no good taxes, but we do realize we have to have them to survive,'' said Commissioner Gene Gregory.
Other commissioners noted that the revenue-generators would help keep down ad valorem taxes - those for county home or land owners, who are expected to see an increase in next year's tax bills to pay for $16 million in school bonds.
``You don't sell anything, you don't pay anything,'' Chairman Ernie Bowden said of the land-transfer tax, which would be raised from $1 to $2 for every $100 valuation.
Last year's Currituck County land-transfer tax generated about $1 million, said County Manager Bill Richardson. The county began collecting a levy on property transactions in 1985.
The tax on sold properties currently is used for capital expenditures for solid-waste disposal, county-operated buildings and equipment, or to retire debts for these facilities, according to a copy of the local bill.
Proceeds from the additional $1 levy would be earmarked for school facilities and related expenses or any debt incurred to fund school projects.
Commissioners said they believe a 1 percent food and beverage tax would be paid mainly by tourists because a bulk of the county's restaurants are located on the Outer Banks.
Money generated by impact fees on properties in new developments would be used to offset increased county services and facilities, such as schools and other county buildings, jails, courts, water and sewer systems, and fire and rescue services. by CNB