City of Charlotte releases proposed FY 2024 budget

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North Carolina Construction News staff writer

The City of Charlotte’s proposed budget for the next fiscal year responds to economic challenges and core services.

“Over the last several years, the city has shown commitment to optimizing the use of funds and continually reassessing the needs of a growing city,” said city manager Marcus Jones. “We all understand the economic challenges faced by many in the past few years. I am proud that the budget we are proposing maintains a revenue-neutral rate, is built without a city property tax increase, continues our commitment to be a well-managed government, and invests in our residents and employees.”

Highlights of the proposed FY 2024 budget includes $6 million to complete the three-year public-private funding commitment toward establishing the Charlotte Arts & Culture plan that will be completed this year.

The city will continue implementing initiatives outlined in the strategic energy action plan, including:

  • Investing in sustainable infrastructure:
  • Purchasing 45 electric and 154 hybrid vehicles
  • Expanding charging and solar infrastructure

It also includes new plans to build the first net-zero carbon police division station, add the first electric refuse truck in solid waste and the first electric semi-truck. New fire infrastructure plans include two additional fire companies and 42 fire staff.

Other proposed spending highlights:

  • $4.2 million in ARPA funds toward the HOMES program in partnership with the county to provide assistance that directly reduces the city tax bill by up to 25% for eligible applicants.
  • $3.38 million in funding for tree canopy preservation, including $2 million for tree maintenance and $1.375 million for replacing trees.

Council will host a public hearing May 8, followed by budget adjustments on May 11 and straw votes May 25. The final budget is expected to be adopted on June 12 and the 2024 fiscal year begins July 1, 2023.

To learn more about these and other important initiatives of the proposed FY 2024 budget, visit charlottenc.gov/budget.

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