FY2024 Adopted Budget

On Tuesday, June 6, the Board of County Commissioners adopted Mecklenburg County’s budget for Fiscal Year 2024, the primary theme of which is to maintain current services and invest in people. Mecklenburg County has been steadfast in its commitment to residents and, in recent years, has launched unprecedented efforts to support the community. The FY2024 budget totals $2.36 billion, an increase of $156 million or 7.1% over the FY2023 operating budget. The budget sets a property tax rate of 47.31 cents per $100 of assessed valuation. For the past four fiscal years—2020 through 2023—the tax rate was maintained at 61.69 cents. Following this year’s property revaluation, the revenue neutral tax rate, which would generate the same revenue as last year, was 45.71 cents.

In Fiscal Year 2024, Mecklenburg County will launch its new five-year rolling Capital Improvement Plan, also known as the CIP, which will be revisited annually to best manage County resources. The adopted CIP is $4 billion and will address the infrastructure needs necessary to meet the demands of a growing community. The plan includes 30 projects for Charlotte-Mecklenburg Schools at a cost of $2.5 billion. The CIP also includes 59 County projects at a cost of $1.5 billion which will help address needed updates to aging facilities, build new facilities, continue our commitment to parks and recreation facilities, and most importantly position the County to provide integrated service delivery to those that need critical health and human services in this community. The CIP invests in our courts and detention center, schools, our community college, and libraries. We will also continue our commitment to bringing County services directly to our residents through the expansion of our community resource center model.