In order to raise a fund for the general expense incident to the proper government of the town, the following taxes are hereby levied.
(A) On every $100 valuation of real estate within the corporate limits as the same existed on January 1 and on every $100 of personal property owned by persons residing in the town, a tax shall be imposed.
(B) For the payment of general operating expenses of the town, a tax in an amount as established each year shall be imposed.
(C) For the payment of principal and interest of the bonded indebtedness and for the retirement of the bonds, a tax shall be set as necessary.
(Prior Code, § 35.01)
Statutory reference:
Property taxes, see G.S. § 160A-209