City of Charlotte doesn’t plan to raise property taxes for 25-26 budget

CHARLOTTE — The City of Charlotte currently does not plan to raise property taxes this year, the Charlotte Observer is reporting.

The budget for the 2025-26 fiscal year is still being worked on, but the city’s assistant and budget director said there are no planned property tax increases for the next budget.

The decision was praised by council members.

“It’s important to show that there is no property tax increase, especially in an environment where there is uncertainty,” said Ajmera, who chairs the council’s budget committee, according to the Observer.

The city raised property taxes for the first time in six years last summer, raising the rate by 1.37 cents. The new revenue was designated to pay for arts and culture grants, public safety, and capital investments, the Observer is reporting.

A final vote on the 25-26 budget will come in June.

(WATCH BELOW: CMS votes to raise district’s minimum wage to $20 an hour)