Charlotte City Council Approves Budget
The Charlotte City Council Monday night unanimously approved the budget for the upcoming fiscal year.
The budget grows the city’s general fund by nearly 5%, to just under $728 million.
The city has a "revenue neutral" tax rate, which means the city will collect roughly the same amount in property taxes as it did a year earlier.
If someone owns a house valued at $250,000 last year – which has risen to $350,000 under the countywide property revaluation – that person’s city taxes would essentially stay the same. The county budget – which was approved last week – would increase that person’s taxes by about $9 a month.
The budget raises the minimum pay for all full-time city workers from $15 an hour to $16 an hour.
It has an additional $6.4 million for the city to invest in old apartment complexes to renovate them and keep them affordable.
There also is new money for the city’s Aging in Place program, which helps seniors pay part of their property tax bill if their home value has risen.
Water bills will go up by $2.20 a month for the average user, and the city’s solid waste fee will increase by a $1 a month.
The city's bus and trains fares will stay the same.