Catawba County News
Manager's Recommended Budget Invests in Core Services, Reduces Tax Rate
Published: May 16, 2023
Catawba County Manager Mary Furtado recommended a Catawba County budget for Fiscal Year 2023/24 of $299,746,020, reflecting a tax rate of 39.85 cents per $100 in valuation and an overall 2.1 percent decrease in the total budget.
The recommended tax rate would take the County below its revenue neutral rate of 39.95 cents and represents a 30.7% reduction in the current rate (57.5 cents per $100 in valuation). This rate currently ranks as the lowest recommended tax rate in the region and preserves Catawba County’s long-standing position of having a rate well below statewide and peer county averages.
The General Fund comprises $241,646,255 of the total recommended budget, representing a 6.1 percent increase over the current year driven by significant inflationary pressures across all areas of operations.
In 2023, Catawba County conducted a statutorily required property revaluation of all real property, with market-driven real estate values increasing significantly more than anything previously experienced in the County.
“These increased property values reflect strong economic activity encouraged by the County’s positive business climate, which drives our economic competitiveness and is linked to our low cost of doing business and overall quality of life,” Furtado said in her budget message. “The recommended Fiscal Year 2023/24 budget reduces the tax rate below the revenue neutral rate to demonstrate our ongoing commitment to fiscal responsibility with taxpayer dollars, do our part to ease the impacts of the inflation facing our citizens and businesses, and reinforce the positive business climate that has contributed to our economic success.
“This budget represents Catawba County’s continued commitment to delivering high quality government services supported by a low, stable property tax rate anticipated to sustain the County’s operating needs until the next revaluation.”
Budget hearings and final budget adoption will take place over the next few weeks in the Board of Commissioners Meeting Room at the Catawba County Justice Center, located at 100 Government Drive in Newton. County department and community agency hearings will take place Wednesday, May 24 beginning at 8:00 a.m., and a public hearing will take place Wednesday, May 31 at 7:00 p.m. The commissioners are expected to adopt a final budget during their regular meeting Monday, June 5 at 7:00 p.m.
The full recommended budget and supporting documents are available for viewing online at www.catawbacountync.gov or in person in the County Manager’s Office at 25 Government Center Drive in Newton.
The recommended budget is balanced and prepared in accordance with the Local Government Budget and Fiscal Control Act and Generally Accepted Accounting Principles.