North Carolina Governor Calls Proposal To Cap Property Taxes a ‘Con Job’—but Voters Will Decide

North Carolina voters will have the option to cap both property and personal income taxes this November.Two measures on the ballot this election season in North Carolina give voters the chance to limit tax increases. One amendment would require the state legislature to pass laws limiting property tax increases. It doesn't establish what that cap would be, leaving it up to the Legislature to decide.The other proposed amendment would lower the constitutional ceiling on personal and corporate income tax rates from 7% to 3.5% in January. The state would then be barred from raising the tax rate above 3.5% again. Supporters argue the property tax cap would slow the rise of property tax bills and limit local government spending. Opponents say it would give cities and towns less flexibility to respond to local needs, and that could affect schools, emergency services and park funding.North Carolina Gov. Josh Stein, a Democrat, has been opposed to both the income and property tax limit amendments, calling them "con jobs" that would shift a heavier tax burden onto working people.The NC Realtors are neutral on the proposal, they told Realtor.com.North Carolina is just one of ten states with ma...