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Charlotte City Council approves budget, property tax increase

The new $4.16 billion budget will take effect when the 2025 fiscal year begins on July 1.

CHARLOTTE, N.C. — Charlotte city leaders voted 8-3 to approve the Queen City's 2025 spending plan Monday night.

City officials have spent the last few weeks laying out their goals and making adjustments, including potential changes to the city’s 1.5 cent property tax increase, a possible $1 million in more funding for the Charlotte-Mecklenburg Police Department in light of the April 29 ambush, and much more.

The final budget resulted in lowering the property tax increase to 1.37 cents. 

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Around $23 million in budget adjustments were made several weeks ago and the budget is a total of $4.16 billion after adjusting to the lower tax rate hike.

RELATED: Charlotte city leaders considering changes to 2025 spending plan

With the 1.5 cent property tax, the average Charlotte homeowner is expected to pay about $54 per year. Paired with Mecklenburg County’s 1 cent property tax, it would add up to $92 a year. They'll save a few dollars now with the 1.37-cent rate decrease. 

The budget also includes a minimum pay raise for full-time city workers, at $23 an hour. 

But some of the biggest investments included in the budget are a $100 million housing bond and a $238 million transportation bond. 

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"When we think about transit and all the needs of a growing city, at the end of the day it really means our residents are going to have to bear that burden," City Council Member Victoria Watlington said in May when the budget was first presented.

A coalition of nonprofits has also come together asking for a "People's Budget" to address the need for affordable housing, youth mentorship, crime prevention and other priorities in the budget.

RELATED: Nonprofits, advocacy groups weighing in on Charlotte's budget

The coalition also asked for a $25 minimum wage for city employees, but ultimately city council decided on $23 an hour.

City leaders say most of the requests, like doubling the housing bond, fall right in line with what their priorities are too. 

"Let's see what we can do for this upcoming bond to show the community that we’re ready to do more ," City Manager Marcus Jones said. Ultimately, Charlotte voters will decide on the bond packages in the upcoming election.

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In the meantime, the future of the Charlotte Museum of History is hanging in the balance.

Its CEO and president said requests for funding have been denied yet again, meaning the city’s oldest and largest museum is mostly on its own. The organization was hoping to receive the same funding of other museums, which they said is around $650,000. Instead, the museum is getting $100,000.

RELATED: 'We’re getting close to the wire here' | Charlotte Museum of History pleading with city council to help with its funding

The new budget will take effect when the 2025 fiscal year begins on July 1.

Contact Destiny Richards at drichards5@wcnc.com and follow her on Facebook, X and Instagram.

Contact Julia Kauffman at jkauffman@wcnc.com and follow her on Facebook, X and Instagram

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