NAGS HEADDER

Fayetteville, NC

#1 Apr 19, 2011
WHY DOESN'T THE GENERAL PUBLIC KNOW WHAT'S GOING ON BEHIND CLOSED DOORS?IT SEEMS THAT OUR POLITICIANS ARE MODELING AFTER OUR FED GOV THESE DAYS. HAVE LOTS OF MEETINGS, VOTING, LISTENING? TO THE PEOPLE (REMEMBER WHEN GOVERNMENTS IN THIS COUNTRY WERE LED BY THE PEOPLE(IE CONSTITUTION) LEADERS WORKER FOR, I REPEAT FOR THE PEOPLE, DON'T GET THEIR WAY........AND JUST DO IT ANYWAY. THIS IS GETTING SHOVED DOWN OUR THROAT, AND WERE GOING TO BE FORCED TO HELP PAY FOR IT. READ ON.. COPY AND PASTED FROM NAGS HEAD WEBSITE.
Project Financing

The beach nourishment project cost is approximately $36-37 million.

As of December 27, 2010, the Town's plan is:

*$18 million in cash from the Dare County Beach Nourishment Fund (fund will replenish $3-3.5 million/year from the 1% occupancy tax that it currently receives)
*$18 million revenue bond to be paid back over 6 years with proceeds from a 1% increase to the occupancy tax. The 1% tax increase will generate about $2 million/year. Nags Head will be able to use the $2 million/year revenue for 5 years to pay back $10 million of the bond. As of April 2011, the remainder of the bond will be paid back through an increase in taxes and not through a special assessment, as planned earlier in the year. The Board has proposed (but not yet adopted) a town-wide tax increase of 2 cents (from the current town tax rate of 15.75 cents to 17.75 cents) and a tax increase of 16 cents for the oceanside from Bonnett Street (about Mile Post 11.25) south to the National Park Service line.



Since property owners currently pay 15.75 cents per $100 of value, the town wide tax increase of 2 cents would add $60 annually in taxes to a property worth $300,000.



For a property located on the oceanside and south of Bonnett Street, worth $1,500,000, the tax increases (both the 16 cents and the 2 cents town wide) would result in an increase of $2,700/annually.



The Board will take action on the tax proposals, which still may be adjusted, during their upcoming budget process.

*$1 million from the Town's general fund (engineering costs)

Southern S Local

Windsor, NC

#2 Apr 20, 2011
Shut up Ray, you lost your damn argument and you don't even live in Nags Head. Complain about Southern Shores and your cul-de-sac on Duck Woods Rd. You LOST. Let's now try BN and see how well it does. All you are is negative negative negative. Do something positive, drive off the bridge.

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