CHARLOTTE, N.C. -- City council approved its $2.6 billion budget which includes one penny tax hike to help cover pay raises for police officers and additional funding for affordable housing.
- Tax hike will add up to $25 per year for a home valued at $250,000
- Under the new police plan, the youngest officers will receive a raise at 12 percent while the most senior officer will receive a raise at 4.5 percent
- The budget will also triple the Housing Trust Fund from $15 to $50 million
The tax hike will add up to $25 per year for a home valued at $250,000.
Under the new police plan, the youngest officers will receive the biggest raise at 12 percent while the most senior officer will receive the smallest pay increase at 4.5 percent.
Most officers will receive between a 7 to 9.5 percent boost.
City Manager Marcus Jones said the pay raises reflect efforts to improve recruitment and retention. Currently, there's a nearly 10 percent vacancy rate at the police department.
To cover the additional costs, Jones eliminated three city government positions and reduced the pilot take home patrol car program by 11 vehicles.
The Fraternal Order of Police, Lodge nine, asked for 15 percent raise for all CMPD officers earlier this year. The group’s president, Mark Michalec said they are satisfied with the pay and incentives but added "there needs to be more work done for topped out officers and sergeants.”
Michalec said they'll focused on those raises for next year.
The budget will also triple the Housing Trust Fund from $15 to $50 million, which will go on the November ballot as a bond referendum.
Mayor Vi Lyles also challenged the private and philanthropic sectors to match that trust fund investment of $50 million.