FY23 Budget Information

Commissioners pass budget that supports growth, schools and thriving economy

County's plan maintains 74-cent tax rate for upcoming fiscal year

At their June 20 meeting, commissioners unanimously voted to adopt the Fiscal Year 2022-23 Cabarrus County budget.

The budget maintains the property tax rate of 74 cents per $100 of assessed value, for a total Operating Budget of just under $318 million.

With that tax rate, owners of a $217,000 house (the median single-family assessed home value in Cabarrus), would pay $1,606 a year in County property tax. 

Commissioners also approved the tax increase requests made by Allen (1.5 cents) and East Gold Hill (1 cent) volunteer fire departments. Although the Flowes Store Volunteer Fire Department requested a tax rate increase of 7 cents, commissioners approved a 3-cent increase. The increases apply to every $100 of property value for residents who live within the respective fire districts.

Outside the General Fund, the County is responsible for administration of Cabarrus Arena and Events Center, Landfill Property, 911 Emergency Telephone and Health Insurance funds. The grand total of all funds is $425.3 million.

Following the budget plan for FY23, the Board is expected to adopt the County’s Capital Improvement Plan (CIP) in July, which would appropriate $19.1 million for deferred maintenance and capital projects.

The recommended budget focuses on three key areas the County will need to support in order to keep up with the area’s rapid growth: personnel, education and capital (building) projects.