On the policy front, Guilford County was fortunate to have passed a historic $1.7 billion dollar bond to revolutionize our public schools. At the same time, however, the sales tax increase to help pay for this bond did not pass. Further, the recent rise in property values means there is nearly $100 million in potential new tax revenue for the county. Finally, we continue to face staff shortages and rising costs of living due to inflation and supply constraints.
What this means is that we must have a carefully prioritized and balanced approach to our budget. We must act on school infrastructure, provide competitive pay to teachers and first responders, and shore up our reserves, but we must do so in a way that is sustainable for our property owners and especially those that are living on fixed incomes.