MINT HILL, NC – Mint Hill Town Manager Brian Welch is making a recommendation to reduce the 2023-2024 fiscal year budget by lowering the current tax rate of 25.5 to 22.5 cents per $100 in valuation while maintaining the $10 vehicle fee.
The 3-cent reduction is a pleasant surprise for Mint Hill residents since Mecklenburg County revaluation is increasing property owners’ tax rates significantly. The Town used the University of North Carolina School of Government guidelines to arrive at and substantiate the reduction.
In Welch’s May 10 budget message, he stated “Our citizens and board have much to be proud of with a tax rate of 22.5 cents.” He continued, “Our tax rate is one of the lowest in the state for a municipality our size.”
The Town Manager made his budget presentation on May 11 during the Mint Hill Board of Commissioners meeting. Welch’s budget includes the following line items that might be of interest to the citizens in attendance and to those who read this article.
- General Fund – $22,213,881
- Powell Bill Program Fund – $774,000 (NCDOT)
- Stormwater Fund – $1,153,344
- ARPA Fund – $ $4,460,000
- Capital Projects Fund – $18,550,000
- Tourism Fund – $365,150
The general fund consists of four new sworn police positions, three new fire department positions, and a new administrative position in Town government. It also provides employees to receive a 8.0% market adjustment to salaries with the second payroll payment of 2024. The adjustment also includes a 2.5% merit increase pool for town employees.
Mint Hill’s leaders have always taken a conservative and fiscally responsible approach in their revenue forecasting considering current economic conditions and trends. To reduce a major mistake in the forecasting model, the town identifies as many economic factors as possible that may impact the final analysis. This could include expected population growth, property values, new development projects, and the overall health of the local and national economy.
The Board of Commissioners is scheduled to meet and approve the budget at the next upcoming meeting in June.
Mayor Brad Simmons thanked Welch, the commissioners, and the town staff for their role in completing the new budget for fiscal year 2023-2024. The budget grows larger every year, and the town will continue to grow dramatically in both residential and commercial development. This growth is a double-edged sword, and it must be managed carefully and wisely by the public officials in charge.