That’s the word from Chapel Hill Mayor Kevin Foy in response to the Town Council’s idea to institute a “luxury tax” on event tickets in order to help pay for the town’s nonstop spending, which is coming home to roost. A week ago, a Herald-Sun story about the town budget included this note of what’s to come for town taxpayers:
Town Manager Cal Horton has warned he expects to recommend some form of tax increase for the 2005-06 fiscal year. In fact, he figures the town might have needs that would require adding up to 11 cents or so to the property-tax rate. It’s unlikely Horton would propose a hike that big when he recommends a budget in May, but about half of that 11 cents would be needed to cover debt payments on which the town would have no choice.
