City of Charlotte Releases Proposed FY 2023 Budget

Posted By: Michelle Manns Industry News,

The proposed budget is set at $3.2 billion and would go into effect this July 1, 2022 after the budget is voted on May 31, 2022.

A few highlights of the budget include:

• Property taxes would not increase for the second consecutive year.

• Increases in parking would see street parking in Uptown and South End increase from $1 per hour to $1.50.

• Water, storm water and solid waste fees would increase:

Water would go up an average 3.54% ($29.88 per year and $2.49 each month).

Storm water would increase an average 3.8% ($4.08 per year and $0.34 per month).

Solid waste would rise an average $0.92 monthly and $11.04 per year.

• Proposes the 2022 Bond, highlights include provision for a third consecutive $50 million allocation to create and preserve affordable housing as well as other infrastructure improvements.

• Leverages federal funds and previous council allocations to provide $55 million in additional resources to support affordable housing and staying in place initiatives in addition to maintaining the $50 million investment in Affordable Housing.

• Invests $4.5 million on city building sustainability, $1.45 million for electric vehicle supply equipment locations, and adds 55 fully electric vehicles to the city's fleet.