New Asheville budget brings tax increase for ‘most’ taxpayers, city says

ASHEVILLE, N.C. (828newsNOW) — A 2026-27 fiscal budget was officially adopted by Asheville City Council earlier this week, creating a roadmap for what city life will look like for residents and officials alike between July 2026 and June 2027. One change will be an increase in property taxes for “most” taxpayers, the city said.

The budget was adopted in a split 4-3 decision at an Asheville City Council meeting on June 9, 2026.

One of the biggest announcements was that the budget would include a property tax rate of 37.69 cents per $100 valuation. That marks an increase of 4.80 cents above revenue neutral, or a raise in property tax from the taxed amount set in the 2025-26 budget.

City Communication Specialist Kim Miller clarified that “the new tax rate will lead to an increase in most city taxpayers bills since the rate was above revenue neutral,” but that “how much will vary for each individual taxpayer depending on how much their property value went up from [revaluation].”

According to data from real estate platform Redfin, the median sale price for an Asheville home in May 2026 was $506,697. Rounding up to $507,000, that means that under the new budget rate, a homeowner with a house of average value could expect to pay about $1,910.88 in city property taxes.

In a press release, the city explained that the property tax increase was necessary “in order to balance the budget in the face of rising costs.”

For more about the new budget, read our story here.