The recommended budget, totaling slightly over $104 million, focuses on several key strategies.
The city council was presented with the budget proposal for the 2023-24 year, revealing that there will be no increases in property taxes or fees
These strategies include implementing the Imagine Kannapolis Strategic Plan, retaining current employees while also recruiting new talent, and utilizing the city’s financial capacity to enhance the quality of life for residents and improve service delivery.
Kannapolis, the 20th largest city in North Carolina, has experienced significant growth over the past two decades, with a population increase of nearly 50 percent. Projections indicate that this growth trend will continue, with an estimated population of 77,000 by 2040. Despite the challenges posed by the post-COVID economy, Kannapolis is in a favorable position due to its sustained positive financial health and the outlook for continued economic growth, allowing the city to address these challenges without raising property taxes or fees this year.
The proposed budget includes funding for the initial phase of the Imagine Kannapolis Strategic Plan, subject to approval by the city council. The allocated funds will support various projects and initiatives, such as renovations for fire stations, construction of a fire training tower and storage facility, improvements to the Gem Theatre, a downtown dog park, upgrades to existing city parks, and more.
Recruiting and retaining employees remains a top priority for Kannapolis, recognizing their vital role in the city’s success
The budget emphasizes providing employees with the necessary tools and competitive salaries and benefits to support their work. Additionally, the budget includes a 3 percent cost-of-living increase for employees, merit increases for eligible employees, and salary development range increases for qualified individuals.
If approved in June, the current tax rate of 63 cents per $100 valuation will remain unchanged. This means that a home valued at $200,000 will continue to pay $1,260 annually in property taxes for all city services. The majority of the city’s revenue is derived from property taxes (55 percent of the budget) and sales taxes (23 percent of the budget).
The budget also allocates funds for various other purposes, including creating 14 new positions in departments such as police, fire, parks and recreation, environmental, and water resources. It also provides for the replacement of aging and maintenance-troubled vehicles and equipment in several departments.
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