Charlotte City Council Adopts Fiscal Year 2020 Budget

On Monday, Charlotte City Council adopted the $2.6 billion Fiscal Year 2020 Budget, which goes into effect on July 1. The FY 2020 Budget includes:

• No property tax increase for the fiscal year, with a revenue neutral rate of 34.81 cents per $100 assessed valuation
• Promoting the creation and preservation of affordable housing by doubling the 2020 affordable housing bond allocation from $25 million to $50 million
• $7 million to be used primarily for Naturally Occurring Affordable Housing (NOAH)
• Investing $1.8 million in Charlotte’s Eastside and Westside neighborhoods

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