City manager proposes property tax increase

CHARLOTTE — During Monday night’s meeting, Charlotte’s City Manager Marcus Jones proposed a $4.2 billion budget for Fiscal Year 2025.

The property tax rate is proposed to increase from 26.04 cents per $100 of assessed value in Fiscal Year 2024 to 27.54 cents in the next fiscal year.

For the past five years, he has been able to increase services and pay without raising taxes.

However, Jones indicated last year that may have to change.

Jones also wants more money on the ballot for affordable housing.

In the past, voters have approved $50 million for the housing trust fund. Some housing advocates have called on leaders wanting more, so Jones is boosting that amount to $100 million.

“We were hoping for $100 million. We got $100 million,” said Robert Dawkins, a housing advocate with SAFE Coalition.

In addition to that increase, Jones unveiled a $238.3 million referenda for transportation.

The new proposed minimum pay for hourly workers in the city of Charlotte is $23 an hour.

Over the next few weeks, they will take part in a series of workshops and vote on it at a later date.

There will be a public hearing on the budget on May 13 at the Government Center.

All changes will take effect in July.

The City of Charlotte has not increased property taxes in five years, but Mecklenburg County has done so.

The county raised the rate by 1.6 cents last year.

Some residents also saw their tax bills rise last year because of a revaluation.

VIDEO: City of Charlotte unveils potential affordable housing developments

City of Charlotte unveils potential affordable housing developments

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