Town Board Approves Tax Increase

By Dave Vieser — The Cornelius Town Board approved the town manager’s proposed fiscal year 2027 budget, which includes a 2-cent property tax increase effective July 1, by a 3-2 vote.

The increase marks the town’s first tax hike since fiscal year 2024, when the tax rate was raised by 1 cent.

The current town tax rate is 17.31 cents per $100 of assessed property value, amounting to about $865 annually for a home assessed at $500,000. A 2-cent increase raises town taxes by about $100 annually for a home of the same value.

Most of the tax increase would help address a widening pay gap for police officers, firefighters and telecommunicators compared with employees in nearby towns. It also would help service debt associated with a portion of the park bonds approved by voters in 2024.

By comparison, tax rates in neighboring towns are 22.75 cents in Huntersville and 26.6 cents in Davidson. Two years ago, Huntersville raised its property tax rate by 5.15 cents, from 17.6 cents to 22.75 cents.