Mecklenburg Times: News for Mecklenburg, Union and Iredell counties Real Estate, Development, Construction, and Community News in the Charlotte area and throughout Mecklenburg, Union and Iredell counties
Charlotte City Manager Curt Walton is floating the idea of lowering property taxes from 45.86 cents per $100 in property value to 43.7 cents.
Under the new rate, the owner of a $200,000 home would pay $874 in property taxes, down from $917 in the previous fiscal year.
Walton made the suggestion Monday during his budget presentation for fiscal 2012-13.
He said some things have changed since the council’s February budget retreat, making him recommend lowering the rate. One primary reason for the suggestion of the lower rate, he said, is a smaller increase in group insurance costs the city will have to pay for employee health insurance. An 8 percent increase in the group rate was expected, but instead it will rise by 3 percent.
“The economy is showing signs of improvement,” Walton said, “so much so that I am comfortable giving you a two-year budget outlook once again instead of doing only one year at a time as we had been during the worst of the economic recession.”
Scott Baughman can be reached at scott.baughman@mecktimes.com.
