Charlotte doesn’t plan to raise property taxes this year, staff tells City Council
Charlotte doesn’t plan to raise property taxes this year, staff told the City Council Monday.
The budget for the 2025-26 fiscal year that starts July 1 is still under development but includes “no planned property tax increase,” said Hannah Bromberger, the city’s assistant strategy and budget director.
Council members met the news with applause during a budget preview presentation at their annual strategy meeting in Asheville. Councilwoman Dimple Ajmera praised the city’s budget team for avoiding a property tax increase at the same time Charlotte is vying for a sales tax increase to pay for an overhaul of the region’s transportation systems.
“It’s important to show that there is no property tax increase, especially in an environment where there is uncertainty,” said Ajmera, who chairs the council’s budget committee.
Still, City Manager Marcus Jones cautioned that rising costs to the city related to growth will likely mean future tax increases .
“Absolutely, positively we haven’t planned a property tax increase. I will tell you, as council asks for more, that will become more challenging,” Jones said of avoiding property tax increases.
The city upped property taxes for the first time in six years last summer, raising the rate by 1.37 cents to 27.41 cents per $100 of assessed valuation. The new revenue was designated to pay for arts and culture grants, public safety and capital investments.
Jones originally proposed a bigger increase, 1.5 cents. But council members directed him to find budget cuts to shrink the rate height.
Property taxes apply to people’s homes as well as items like cars or other vehicles. Besides the city, a person’s total property tax also includes the county they live in and any special tax districts.
The City Council is still months away from considering a fiscal year 2026 budget. Members are scheduled to attend budget workshops in February and March before Jones presents his proposed budget May 5. The council will vote on a final budget in June.
This story was originally published January 27, 2025 at 6:23 PM.
