PITTSBORO — The Chatham County Board of Commissioners considered the nearly $200 million county budget for fiscal 2024-25 at its May 20 meeting.
The proposed budget totals $193,344,509, an approximate 4% increase from last year. It includes an increased property tax rate of $0.04 to $0.725 per $100 valuation.
“Essentially, every $100,000 of property value is about an increase of $40 on an individual’s tax bill,” said Assistant County Manager Bryan Thompson.
The budget allocates an additional $4 million to Chatham County Schools to cover increases in staff pay and benefits, operational costs, local teacher salary supplements and capital outlay.
It includes a 4% raise for Chatham County employees and an additional $2.8 million for the Chatham County Sheriff’s Office to cover additional staffing and other items.
The board will give final approval to the budget at their June 17 meeting.
“We are feeling a lot of significant financial pressures in the upcoming fiscal year, primarily around education, public safety and utilities, but our organization is well positioned to address our continued growth, and we are very optimistic about that growth and our ability to make that transition,” Thompson told the board.
The commissioners also considered economic development incentives for Innovative Construction Group, a building materials manufacturer that is planning a new facility in Chatham County.
“Back in April, ICG announced plans to build a manufacturing facility in Chatham County pending the approval of economic development agreements with Chatham County and the Town of Siler City,” said Chatham Economic Development Corporation project manager Phillip Thompson.
According to Thompson, ICG will create 157 new full-time positions with an average salary of approximately $53,000. The company plans to invest nearly $40 million in a new 150,000-square-foot operation in Siler City.
The county would include a performance-based cash incentive equal to a declining percentage of an increase in paid property taxes over five years. A final decision on this will come at a future meeting.
A pair of zoning matters were also examined, with both kicked back to the Planning Committee for further consideration.
One was about shifting roughly 20 acres of property located on Farrington Point Road from R-1 Residential to Conditional District Neighborhood Business for a limited event center.
“What that means is that they can have an event center, but the size of the building is limited to no more than 5,000 square feet,” said Zoning Administrator Angela Plummer.
The other was for a new electronic battery recycling facility on 37 acres on Christian Chapel Church Road, moving from R-1 Residential to Heavy Industrial.
The Chatham County Board of Commissioners will next meet on June 17.
