ASHEVILLE, N.C. (828newsNOW) —
Buncombe County residents get a chance to weigh in on proposed property tax increases and the county’s spending priorities on Tuesday night, when County Commissioners hold a public hearing on a proposed budget for fiscal year 2025.
Commissioners meet at 5 p.m. Tuesday, June 4, at county administrative offices, 200 College St., Room 326, in Asheville.
The recommended budget presented by County Manager Avril M. Pinder on May 21 is based on what she called “dramatic changes in the economic landscape” over the past few years.
PROPERTY TAX INCREASE INCLUDED IN BUNCOMBE COUNTY BUDGET PLAN
One-time federal Covid-19 relief funds have run out, sales tax growth has slowed and the county has dealt with inflation and rising labor costs due to a hyper-competitive labor market and the Asheville area’s high cost of living.
As a result, Pinder said keeping the budget balanced will require using $11.7 million of prior year fund balance — keeping those reserves at 14.7 percent, just below the 15 percent the county maintains by policy. And her administration is proposing to raise the property tax rate by 5.12 percent, from 49.8 cents to 52.35 cents per $100 of assessed valuation.
On a home assessed at $350,000, the increase would mean an additional $89.25 in annual property taxes.
Of the 2.55 cent increase, 1.8 cents would be for overall county operations and 0.75 cents would go to public schools. Combined, the tax increase is projected to generate $13.6 million in revenue.
The proposed budget, available at the Buncombe County website, would include a $441,905,358 General Fund and $628,228,685 in total expenditures (including 16 other operating funds, such as enterprise funds and special district revenue).
If approved, the budget would include a 4.89 percent cost of living adjustment for county employees, which is based on a two-year average change in the Consumer Price Index. It also would include 30 new county positions in the General Fund and three new positions in the Solid Waste Enterprise Fund.