Proposed spending plans in the four Lake Norman towns, if adopted, would hold the line on property tax rates for the next year. These budgets determine town tax rates that represent between a quarter and a half of property tax bills.
Cornelius has the lowest rate at 25.5 cents per $100 assessed value. Huntersville is next at 30.5 cents, followed by Davidson at 35 cents and Mooresville at 58 cents per $100 assessed value.
The budgets must be adopted no later than June 30.
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The proposed $22.5 million budget would freeze town property taxes at the current tax rate of 25.5 cents per $100 assessed tax value. Unlike Huntersville or Davidson, Cornelius does not charge any solid waste fee.
The budget, which is virtually the same as the town’s current spending plan, reflects a 1.5 percent increase in the town’s assessed value. It would keep 1.5 cents of the tax rate dedicated to transportation capital costs.
If the budget proposal is approved, town taxes on a $250,000 house would remain at about $637 a year.
The $22.5 million spending plan will be the subject of a continued public hearing on June 5 and final approval is expected on or before June 19.
The proposed budget totals $11.06 million, a 5.2 percent increase over the current spending plan. However, the town tax rate will remain at 35cents per $100 assessed value. The proposed budget provides a continuation of all services, adds one police officer and one full-time firefighter position, and provides $300,000 for future capital projects. A percent merit salary increase pool is also included. The town’s annual solid waste fee remains at $201 for single-family homes and $60 for multi-family homes.
If the budget proposal is approved, town taxes on a $250,000 home would remain at approximately $875. Final approval is expected June 13.
The proposed $35.5 million budget, while nearly 2 percent higher than the current budget, freezes the town tax rate at 30.5 cents per $100 assessed value. The town’s annual $72 solid waste fee would not change. The budget does include funds for seven new positions including three in the town parks department to work in the new recreation center. The budget also calls for hiring two new police officers, funded in part through the Governor’s Highway Safety Program grant. A 3percent merit-based raise is also proposed for full-time employees.
If the proposed budget is approved town taxes on a home valued at $250,000 would be approximately $760.
The proposed $68.4 million budget is 3 percent higher than this year’s budget. However, the town’s tax rate of 58 cents per $100 assessed value will remain the same, as will the annual $60 solid waste disposal fee. The spending plan does not include funds for any new positions, but does cover the cost of a 3 percent merit increase for town workers. A public hearing is scheduled for June 5. Town taxes on a home valued at $250,000 would be approximately $1,450.
Dave Vieser is a freelance writer: email@example.com.
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