FY 25-26 Final Adopted Budget

SPECIAL TAX DISTRICTS FUND

Historic Tax Districts: In 1989, the College Hill and Dunleath (formerly Aycock) Historic Districts became special taxation districts under North Carolina Municipal Service District legislation. Property owners in the Dunleath Historic District are assessed five cents per $100 in assessed valuation. Property owners in College Hill are assessed one cent per $100 in assessed valuation. The property tax funds from these districts are typically used for projects such as maintenance and repair of signs, fences, trash receptacles, landscaping, and streetscape enhancements. Business Improvement District (Downtown): In FY 04-05, a Business Improvement District, or BID, was established for the downtown area. An additional tax of nine cents per $100 of property value was levied on properties within the district. BID funds revitalize the district through various economic development initiatives. Funds received through this levy are maintained in a separate reserve account and are available exclusively for downtown district purposes as approved by business owners and residents.

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Budget Highlights:

The FY 25-26 Adopted Budget is increasing by $350,000, or 24.0%. During FY25-26, Downtown Greensboro Inc. (DGI) will complete the Thrive35 Strategic Vision Plan. The plan is an update to the 2030 Vision Plan and aims to shape a downtown that is vibrant, livable, sustainable, and built for everyone. DGI will also continue the major placemaking project of reimagining the J. Douglas Galyon Depot that will include new recreation and entertainment options. The Historic Tax Districs budget includes $350,000 for planned lighting and streetscape improvements in the College Hill Historic District.

Adopted FY 25-26 Budget

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