MECKLENBURG COUNTY, N.C. — Mecklenburg County leaders are steps closer to finalizing the budget for Fiscal Year 2024. The budget is very complicated and goes through a long process for approval.
County commissioners voted on several bonds during a straw vote session Thursday, a final vote will be taken next Tuesday.
“We do a lot for the community which helps everyone and I’m proud of that and the priorities that we established,” Pat Cotham, the Mecklenburg County Commissioner-At Large, said.
$2.3 billion for Mecklenburg County’s 2024 operating budget was approved preliminarily -- a 7.2% increase from 2023 -- to fund critical programs in the county.
A $2.5 billion bond for Charlotte-Mecklenburg schools passed 5-3. It would support renovations, upgrades and expansions of newer and older schools, and would fund up to 30 projects for schools in the district including a new athletic complex.
A large concern was the amount of money to fund the CMS bonds because of how it would impact homeowners and renters. Cotham voted against it and wanted a lower amount considered.
“A $1 billion bond for CMS would not add an additional tax increase for four consecutive years like the $2.5 billion would,” she continued.
Cotham said she is worried about people paying more taxes when many families are already facing financial challenges, in addition to the recent property revaluations.
“Right now, rents are very high, and people are paying high mortgage payments,” Cotham said. “We have to assume that it will also increase their home insurance if their homes are worth more.”
She adds the tax being revenue neutral addresses the increase in the value of homes from the 2023 property revaluation.
“That does address some of the inflation of the housing prices going up… but it does go up a little bit over the revenue neutral and people need to understand that,” Cotham said.
Hope Martin said she saw the value of her home go up after recent property assessments.
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“I’ve been living in my house for the last 37 years and you think your house payments are going to go down and everything will be fixed but instead taxes went up and insurance went up,” Martin said. “Everything went up and that’s not good.”
As the county finalizes its fiscal budget for next year, Martin is concerned she will have to shell out more money down the line.
“I wouldn’t want it to go up more than it already has,” Martin said. “It’s just a struggle and really for everybody. Plus, I have a daughter with a learning disability… with special needs and so it’s not a good thing.”
Martin said a tax increase could add another financial burden on families.
County commissioners will finalize the budget next Tuesday. When it comes to the $2.5 billion bond for CMS, if approved it will be added to the ballot for voters to make the final decision in November at the polls.
Contact Jesse Pierre at jpierrepet@wcnc.com or follow her on Facebook, Twitter and Instagram.