Special to IFN

RALEIGH — N.C. House Speaker Destin Hall announced Wednesday that the House is actively exploring a state constitutional amendment on property tax levy limits.

The House Select Committee on Property Tax Reduction and Reform signaled support for the concept in a voice vote on Wednesday. Committee deliberations are continuing.

“Property taxes are out of control,” Hall said. “Families are getting ripped off as some, but by no means all, local governments rake in billions more than inflation and population growth warrant. It’s time for real reform, which is why the House is pursuing solutions like levy limits to stop runaway property tax hikes and protect North Carolina taxpayers.

Property tax rates are set by each county’s Board of Commissioners and municipalities. Tax revenues are used to pay for health and human services, law enforcement, emergency medical services, fire protection and education.

The speaker expressed his gratitude to committee chairs, led by Rep. Julia Howard, of the House Select Committee on Property Tax Reduction and Reform, for their work on this issue.

A recent analysis from the John Locke Foundation showed that over the past decade, nine of North Carolina’s 10 most populous counties have overtaxed property owners by nearly $3 billion beyond what inflation and population growth justify.

A “levy limit” would prevent local governments from increasing total property tax beyond a certain threshold, likely tied to inflation and population growth. States that impose levy limits generally allow larger increases only in certain circumstances, such as with voter approval via referenda.