RALEIGH, N.C. โ Voters this fall will be asked whether North Carolina should cap the stateโs income tax rate and limit the ability of local governments to raise property taxes.ย
The GOP-led General Assembly on Wednesday approved two Constitutional Amendment proposals for the November ballot. One of the proposals seeks to permanently cap the state’s income tax rate at 3.5%. The other proposal aims to regulate how quickly local governments can increase property tax rates. It doesnโt include a specific cap for property tax rate increases โ bill sponsors say the amendment has to pass first before they write the details into law.ย
