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City of Charlotte Releases Proposed FY 2023 Budget

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 use of $30 million from ARPA Tranche 2 for affordable housing initiatives that
    support strategic partnerships, reduce displacement risk, and advance staying in place.
  • 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.
  • 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.
  • 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.

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