Iredell County has one of the lowest property tax rates in the state. In contrast to the mainstream media, most citizens believe this low rate is a good thing.

The liberal press has seldom if ever reported that Iredell’s per-capita tax burden is near the state average, its per-pupil school spending is above state average, and its per-capita debt is among the 20 highest of the state’s 100 counties.

Iredell has more industrial and commercial property than most counties in the state. Industry pays a large share of the local property tax. Land values are far higher than in more rural counties. These two factors cause Iredell’s per capita tax base to be well above the state average.

The local tax levy (total county property taxes at 100 percent collection rate) computes to $440 per person, or $1,760 for a family of four. As can be seen from the chart at the right, this amount is near the state average.

In 54 NC counties, the per-capita tax levy is less than in Iredell, and in 45 it is more. Among neighboring counties, the tax levy ranged from a high of $838 per capita in Mecklenburg to a low of $274 in Alexander County.

Iredell’s total county spending is $848 per capita, a bit under the state median average of $916. This figure includes local sales tax revenues, state grants, and other miscellaneous revenues.

Contrary to the impression created by the liberal press, Iredell County’s school current expense appropriation of $1,193 per pupil is above the state average, as can be seen on the chart at the right. When capital spending and debt service are included, county taxpayers pay over $2,000 per pupil on schools.

(Total school funding, including local, state, and federal revenues, is about $7,000 per pupil in North Carolina.)

Iredell has a total general fund debt of more than $97,000,000. Over 93 percent of the debt is for school buildings. Annual payments on the school debt total $10,981,188, or $78 per capita. As can be seen from the chart at the right, this is well above the state average. Iredell ranks 19th among the state’s 100 counties in school debt service per capita.

If the proposed school bond passes, Iredell’s per capita school debt will likely rank among the top ten of the state’s 100 counties.
 

NC median average 434

NC mean average 1132

NC median average 1057

NC mean average 48

NC median average 43

Source: Budget & Tax Survey 2004-2005,

Compiled by NC Assn. of County Commissioners