MAY 27, 2025 - A damaged home in Clyde, North Carolina, eight months after Hurricane Helene. (Photo: WLOS Staff)
CLYDE, N.C. (WLOS) — Flood-damaged properties in Clyde are now worth less after Hurricane Helene. That means fewer revenues being produced, which has led to a lean, recently passed town budget.
Clyde leaders say $43,000 less in property taxes is coming into the town this year due to an abundance of Helene-damaged homes.
“We hate to lose the revenue,” said Mayor Jim Trantham.
He and Mayor Pro Tem Dann Jesse say the new budget is bare bones, counted down to the dollar – $4,694,550.
“There is nothing – There's[...] literally no fat in it,” Jesse said.
Jesse said several homes were impacted by Helene flooding.
“I’m going to say there's 75 homes that we’re probably looking at,” he said.
Most of these impacted homes are along Broad Street next to the Pigeon River, many of which were gutted by high floodwaters.
“It’s just a lot of open doors, open windows,” said Jesse.
Most homeowners, Jesse says, are taking the FEMA buyout and moving away with their property values now diminished.
“They still have to pay taxes until[...] they're bought out," Trantham said. "But the county reduced their taxes for that reason."
Town leaders say that overall, that's a $10 million loss to property values in Clyde. They've also had upfront flood recovery costs as they continue waiting on a timeline for FEMA reimbursement.
The tax rate stays the same in the new budget, and town staff will receive a 3.2% cost-of-living adjustment, but there will be no merit increase.
“I just want to commend our employees. They've been through a lot,” Trantham said.
Moving forward, town leaders are looking for new places, on higher ground, to build housing in order to bring in a younger generation and pull revenues back in.
“There are a few parcels I have in mind. You could build, like, apartments or condos. That wouldn't bring back the population we have had before, but that would help us,” said Trantham.
Leaders expect many homes along the river to be raised, leaving open space and opportunity to bring in river outfitters and tourism.
“Make it something that people can take advantage of and utilize," Jesse said. "Bring in some money."
The budget was formally adopted last week.