Sylva ponders tax increase Protestors hold signs opposing a plan to increase taxes to fund additional police officers during a public hearing on a different topic the board held at Bridge Park April 1. Holly Kays photo
Sales tax receipts are booming in Sylva and a newly completed property revaluation will bump real estate values by about 14.5 percent this year if tax rates stay the same, the town would expect to receive $345,000 more in the coming fiscal year than in the current year’s budget.
That increase equals 7.86 percent of the estimated general fund revenues for 2021-22, but three of the town’s five commissioners say they support an increase to the tax rate as well.
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