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Asheville faces $10.5 million FY27 gap; council weighing tax choices to fund bonds and staff raises
Summary
City staff told Council the city faces roughly a $10.5 million general fund gap for FY2027 and presented tax-rate options after Buncombe County's revaluation: a revenue-neutral rate near 33 cents and scenarios that would raise the rate to about 39 cents to cover bond debt or higher to close the full gap. Council debated timing of bond funding and the share attributable to a proposed $3 million cost-of-living adjustment.
City Manager D.K. Wesley opened the April 14 budget work session and said staff will present a manager's proposed FY2027 budget on May 12.
Staff told the Council that, absent other changes, the city would face a roughly $10.5 million gap between projected revenues and expenditures for FY2027. Tony McDowell, finance director, said preliminary county revaluation figures produce an estimated revenue-neutral city property-tax rate near 33 cents per $100 of assessed valuation, down materially from the current 44.19 cents.
Why it matters: Council must choose whether to set a tax rate…
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