From the News & Observer’s story about Chapel Hill’s budget woes (emphasis is mine):
Orange County revalued property this year, with the average assessed value of homes in Chapel Hill and Carrboro rising 29 percent. Town Manager Roger Stancil plans to recommend a revenue-neutral tax rate. That would mean lowering the town’s tax rate to generate the same tax revenue as last year and keep tax bills level for homeowners whose property assessed at the average rate.
Mayor Kevin Foy said he can’t see anything else.
“I can’t envision supporting a budget that includes a tax increase this year,” he said.
A lot of folks are watching, Mr. Mayor.
