WINSTON-SALEM, N.C.– The Winston-Salem City Council approved a $378.9 million budget Monday evening.
Under the approved budget, the property tax rate will increase by 3.9 cents, bring it to 53 cents per $100 value, however, more than 60% of city property owners will see their tax bill decline because of the drop in-house values.
The city will cut 52 positions, 28 of which are related to the sale of the LJVM Coliseum and Bowman Gray Stadium.
The budget will allow city employees to be eligible for a 1.5% to 3% increase, based upon performance.
Money to enhance Martin Luther King Jr. Drive, make repairs to streets and bridges and purchase hybrids are also included in the budget.