Burke County proposes balanced budget with 1% property tax rate decrease

Burke County officials announced a proposed property tax rate reduction during the June Regular Meeting, aiming to ease the financial burden on local taxpayers. The budget for the upcoming fiscal year is set at 55.5 cents per $100 of assessed value, marking a 1% decrease and the second consecutive reduction in three years. This decision aligns with the county's ongoing efforts to promote economic development and attract higher-paying jobs, addressing the pressing issue of local residents leaving Burke County for better employment opportunities.

The county's economic landscape remains challenging, with approximately 22,000 residents commuting daily for work, many earning less than $3,500 a month. To combat this, officials are advancing plans for a speculative Class A industrial shell building, which is expected to stimulate job growth and investment in the area. Additionally, projects such as the expansion of tea hangars at Hickory Airport have contributed to a significant increase in the personal property tax base, growing from $35 million to $110 million.

Despite these positive developments, the budget also reflects rising operational costs, including labor and contracted services, which have increased by about $1.3 million. This inflationary pressure translates to a slight increase in the tax rate, but officials emphasize a balanced approach to budgeting, focusing on sustainable revenue sources and careful forecasting.

The total budget for the general fund is projected at $116.2 million, with property tax revenue accounting for approximately 52.9% of total income. The county is diversifying its revenue streams, with significant contributions from intergovernmental revenues and sales tax. However, challenges remain, including a decline in Medicaid-related revenues and the need to adjust fees for services like water and sewer to maintain financial stability.

In terms of public safety and education, the budget allocates $30.9 million for public safety initiatives, including support for volunteer fire departments, and $20.5 million for Burke County Public Schools, reflecting a commitment to improving educational resources and teacher support.

As Burke County moves forward, officials remain focused on strategic investments in infrastructure and community services, aiming to enhance the quality of life for residents while navigating the complexities of economic recovery and growth. The proposed budget will be further discussed and finalized in upcoming meetings, with an emphasis on transparency and community engagement.