Property, sales tax increase on table as city council preps 2024 budget

Members of Charlotte City Council are set to host a budget event at Camp North End on Tuesday evening.

ALSO READ: Charlotte City Council approves $3.2 billion budget

It’s designed for residents to learn more about how the city creates a budget and what priorities they believe should be funded.

The 2024 budget is expected to be a challenge, and a property tax increase is on the table.

Channel 9 government reporter Joe Bruno sat down with chairwoman Dimple Ajmera to understand why this year’s budget will be a bit more complicated.

“We have not had a property tax increase in almost 5 years. Even during the pandemic, when other cities and towns across the state and the nation raised taxes with inflation, with increased retirement costs and health insurance costs, we have not done that,” Ajmera said. “We have absorbed the cost by being efficient with money. So now we have increased pressures like every other city in the nation, whether it is increased investments in affordable housing or taking care of our employees like police and fire.”

Ajmera says the increased investments have left the city council to face some tough decisions when it comes to balancing revenue.

Property tax is one possibility that the city council has on the table; the other is a sales tax increase.

“We have to build consensus with some of our neighboring towns. We also need a head nod from Raleigh, and certainly that is an uphill battle, and we are going to continue to move forward along those lines,” Ajmera told Bruno.

The city of Charlotte also has an online budget simulator for residents to take a stab at balancing this year’s budget.

Workshops will be held through the spring before a vote at the end of June.

(WATCH BELOW: City budget proposes some financial partners to not see reductions)