The mission of Henderson Properties is to provide support and availability to meet client expectations. This includes keeping clients and prospects informed of laws affecting property management. Here’s an excerpt of how Charlotte city fees may increase, and what this means for property investors.
Prior to final meeting and votes related to the Fiscal Year budget for 2017, Charlotte City Council was considering a 1% tax increase. The city had also considered eliminating garbage service on all apartment homes or increasing the garbage fees on those homes to about $56 per unit to pay for the service. Apartment owners pushed back against both garbage proposals, emphasizing it would hurt low-income renters, as the additional expense would be passed through to renters.
At its final budget meeting in June, the Charlotte City Council reached an agreement on a budget that avoids a property tax increase this year, in part by financing some capital costs over a five-year period. All Charlotte area homeowners and apartment building owners will pay $8 more a year in garbage fees, approximately $.67 per month. For both apartments and homes, the garbage fee would increase from $25 to $33 a year.
Monthly water and sewer “availability fee” and “billing fee” combined will also increase by approximately $2.54 per month. Water and sewer fees will increase from $14.44 to $16.98 a year.
Garbage fees and water and sewer fees combined will increase by $3.21 per month, a combined increase of $38.52 a year.
The budget allows for Charlotte Mecklenburg Police to hire 63 new officers and 25 support personnel and the Charlotte Fire Department will also get a new ladder company for the Northlake Mall area.
For any questions about rental property management, visit our property management page, or call 704-970-4148.