HUNTERSVILLE, N.C. – The Huntersville Town Board of Commissioners voted to adopt the Fiscal Year 2025 Budget during its June 3, 2024, meeting providing the Town with a comprehensive financial plan designed to meet the needs of our community in the upcoming fiscal year. The budget’s adoption followed a public input process, in which Commissioners and staff held six public meetings from April 29 to May 22 to educate residents about the budget and offer the community opportunities to give direct feedback on the budget. The adopted budget addresses the expanding needs of Huntersville’s growing population, while setting a tax rate that remains the lowest of the top 25 most populous communities in North Carolina.
The $110,015,590 Fiscal Year 2025 Adopted Budget provides a balanced, strategic financial plan that addresses the growing needs of Huntersville while maintaining fiscal responsibility and adhering to the North Carolina General Statutes Local Budget and Fiscal Control Act. This budget allocates resources for personnel, operations, capital investments and debt service payments, ensuring the needs of Huntersville’s growing community are met. It incorporates property tax revenues based on values set by the Mecklenburg County Assessor’s Office and aligns specific revenues and costs by fund.
The FY25 budget adopts the use of the Town’s General Fund balance and newly approved General Obligation Bonds to fund numerous projects in the five-year Capital Improvement Plan. The budget funds public safety initiatives, such as Town Fire Department employees and additional sworn Police positions.
The adopted budget addresses several key initiatives based on feedback from residents, Town needs and Town Board priorities. These priorities are in alignment with the FY25 goals adopted by the Town Board, which can be viewed on the budget page of our website. The top priorities in the budget are public safety, roads, greenways, parks and debt service. Also included in the budget is $150,000 in funding earmarked for affordable housing initiatives. The Town Board is seeking to lay a foundation of funding for affordable housing initiatives, based on work completed by the Affordable Housing Task Force.
The budget also addresses new debt as a result of the construction of a new Town Hall and $58 million in General Obligation Bonds for Transportation and Parks and Recreation approved by voters in November 2023. The voter-approved General Obligation Bonds are expected to be issued in two increments, with approximately $30 million of the $58 million anticipated to be issued in October 2024.
The adopted budget sets the tax rate at 22.75 cents per $100 of assessed valuation. The tax rate transition from 17.6 cents in Fiscal Year 2024 to 22.75 cents in Fiscal Year 2025 accounts for debt service and new Fire and Police positions.
Huntersville’s tax rate remains the lowest among the 25 most populous municipalities in North Carolina. Huntersville is North Carolina’s 16th most populous municipality. The average tax rate among the top 25 most populous municipalities in North Carolina is 50.8 cents per $100 of assessed value according to Fiscal Year 2024 tax rates. The tax rate for Fiscal Year 2025 represents a less than $20 a month increase to a homeowner with a tax value of $460,000 in Huntersville. This low tax burden continues to lure residents, development and businesses, fueling a population and assessed value growth rate leading Mecklenburg County.
The budget funds Town Fire Department employees, including 18 full time positions, for the first time in Huntersville’s history. This budget also provides for the hiring of additional staff to maintain exemplary customer service. Public Safety remains a top priority, with funding for 10 new sworn police officer positions on top of fully funding the newly formed Town Fire Department. Employee raises of a 4.1 percent cost of living increase and a two percent merit pool increase are included, along with the implementation of the Fiscal Year 2024 class and compensation study.
The Capital Improvement Plan (CIP) includes significant investments in transportation, parks and public safety infrastructure. Notable projects include road and intersection improvements, park developments, and the construction of a new Town Hall. The CIP features projects that reflect resident-driven initiatives and the need for enhanced services due to ongoing growth.
The adopted budget for FY25 ensures that Huntersville is well-positioned to meet the needs of its growing community while maintaining fiscal responsibility. Detailed revenue and expenditure line items are available in the full budget document. This budget reflects the collaborative efforts of the Town Staff, led by Finance Director Pattie McGinnis.
