Charlotte homeowners will see higher property tax bills next year after City Council approved a nearly $4.5 billion budget that includes a tax increase to fund public safety raises.
The budget, approved Monday night, raises the city property tax rate by 1.89 cents. Officials estimate the increase will cost the average homeowner about $5.71 more per month.
According to City Manager Marcus Jones, the additional revenue will be used exclusively for public safety, including 10% pay raises for both the Charlotte-Mecklenburg Police Department and Charlotte Fire Department.
To fund the raises, the city reduced spending on some public safety technology projects and cut Charlotte Fire’s overtime budget.
The budget passed with support from most council members. Only Ed Driggs and Lawana Mayfield voted against the proposal.
The new budget and tax rate take effect on July 1.
