Cabarrus County Budget FAQs

County Manager Mike Downs presented the Fiscal Year 2024-25 (FY25) Recommended Budget on May 20, 2024.  Downs broke down highlights of the $391 million plan during commissioners’ May Regular Meeting.

The recommendation reduces the tax rate to 60 cents per $100 of assessed value – a 14-cent drop from FY24.  

With that, owners of a $356,350 house (the median single-family assessed home value in Cabarrus as of the 2024 revaluation) would pay $2,138.10 a year in County property tax.

At that rate, “the County can sustain services, many of which are state-mandated, and make critical investments in staff, capital and other needs,” he said. “Analysis shows that short of an economic downturn, this rate should be sustainable and provide a degree of certainty for taxpayers over the next four years.”

Part of the budget process includes a five-year plan that details expected changes in revenue and expenditures. 

The recommended tax rate would generate a surplus of $15 million over the next two years (FY25 and FY26), which would in turn be used to cover a projected shortfall in FY27 and FY28.

Here are some highlights of the proposed FY25 budget:

Prioritizing public safety and enhancing social services

The largest new expense in the FY25 budget—significant increases to public safety salaries— was approved unanimously by commissioners in March 2024. These increases recognize the contributions of Sheriff’s Office, EMS, Fire Services and Emergency Management professionals.

They are also competitive, improving recruitment and retention.

The FY25 budget also funds:

• Eight new positions for EMS to place a 14th ambulance into service. This additional ambulance will provide coverage 24/7/365, improve response times and reduce the need for standby coverage.   
• A new armored van and truck for the Sheriff’s Office Special Response Team to enhance incident response capabilities
• A Simulation Technical Specialist and a Logistics Specialist for EMS to enhance in-house training and to manage distribution of medical supplies, equipment and other items
• One additional Deputy Sheriff to provide security at the Concord Library branch

While position needs exist across departments, the Department of Social Services (DSS) continues to experience significant turnover and must remain compliant with State and Federal guidelines. Failure to do so can result in substantial financial penalties or even takeover by the State of a program or the entire department.

Ten new positions are recommended for DSS, including:

• Three Eligibility Specialist II and an FNS Eligibility Supervisor II in Food and Nutrition Services
• A Licensing Social Worker III, Quality Assurance Evaluator and Community Social Services Technician in Child Welfare
• An Intake Social Worker II in Adult and Family Services 
• An Administrative Specialist I in Child Support Enforcement 
• An Administrative Specialist III within DSS Administration

Addressing education partnerships and unprecedented capital needs

Overall, the Cabarrus County Schools (CCS) operating budget increases to $90.2 million – $8.5 million over FY24. Kannapolis City Schools (KCS) operating budget increases to just under $10.5 million – up $1.16 million from FY24. Additional funding for both CCS and KCS covers increased costs for personnel, including salaries, certified supplements and benefits. This funding also covers inflation- and enrollment-related cost increases for instructional, staff training, building maintenance, utilities and technology.

For Rowan-Cabarrus Community College (RCCC), additional funding for salary and benefit increases and utilities are included, resulting in total funding of $4.6 million, an increase of 6.2% from FY24.

As part of the FY24 budget, the Board approved new financing for 13 projects totaling an estimated $180 million. Projects included the public safety training facility, relocation of DSS and several education projects. Given market conditions, the debt issuance was delayed until FY25 to address changing needs.

The budget request submitted by Cabarrus County Schools “was the largest in recent memory,” Downs said. Totaling $1 billion, it addresses projected enrollment growth over the next decade.

As a first step in meeting the 10-year request, an additional $170 million is needed, for total financing of $350 million. The added funding would allow CCS to construct two elementary schools that would open in August 2026. 

An additional $54 million would be allocated to RCCC for construction of a Workforce Innovation Center and for substantial renovations to Building S201. 

The balance of the additional funding will go towards closing gaps for approved projects, including the $20 million shortfall for the Regional Behavioral Health Center. The County received $32.5 million from the State for this critical project, but the overall budget to deliver the full scope of the project is currently $55 million.

Board action will be requested in June to authorize projects for construction-period financing. Although the total July 2024 issuance is a substantial investment, the proposed plan funds these projects without impacting the FY25 tax rate, Downs said. 

In addition to debt-financed projects, the budget allocates $27.6 million of cash reserves to meet other capital needs for CCS, KCS, RCCC and the County. 

The FY24 budget runs from July 1, 2024 through June 30, 2025.

The County operates on Fiscal Years that run from July 1 through June 30. 

The FY 25 Budget will run from July 1, 2024, through June 30, 2025. 

Looking forward

The County's proposed FY25 budget was made public on May 20, 2024.

To increase transparency, the County now offers its 200-plus-page document in an easy-to-use, interactive online format. View individual categories or download the book in its entirety at https://stories.opengov.com/cabarruscountync/097e5440-5c00-4912-9920-448eb611667d/published/0BfkLUIa5?currentPageId=TOC

The Budget Book includes the following sections:

• Introduction
• Financial Structure
• Budget Message
• Budget Summary
• Fund Summary
• Position Summary
• Five-Year Plan
• Capital Improvement Plan
• Program Summaries
• Debt Service
• Supplemental Information (Revenue Neutral Tax Rate, Fee Change, community and statistical information, glossary, acronyms and a telephone directory)

Looking back

View the CURRENT year's budget, FY24 (July 1, 2023 to June 30, 2024)

Each year, state law requires the Cabarrus County Board of Commissioners to adopt a balanced, annual budget by June 30. 

The process begins in October when departments enter Capital Improvement Project (CIP) requests. 

In January and February, departments enter their budget requests for the next fiscal year.

The Board of Commissioners holds its annual Budget Retreat in February. Staff and the Board review important local data that may impact budgeting decisions, including organizational trends, school trends, community needs/trends, growth trends, legislative changes, and revenue and expenditure projections. Throughout the two-day event, Board members give staff direction on what they would/would not like to see in the budget.

Using direction provided by board members at the Budget Retreat, County management works with departments in March and April to evaluate data, understand needs and prioritize budget requests for the next fiscal year. 

County management, in consultation with budget and finance staff, reviews the departmental proposals and compiles an overall county budget that is submitted to the Board of Commissioners on May 20, launching the start of the public viewing period. 

The Board of Commissioners then holds a series of budget work sessions to review and make recommendations to the proposal. Staff makes adjustments that balance the budget according to the Board's direction. 

At a June 3 public hearing community members can comment on the budget, allowing time for additional commissioner deliberation ahead of the June 17 vote on the final County budget.

Most of a County's budget pays for services that are mandated (required) by the state or federal governments. Examples of services that counties must provide for residents as mandated by the state:

• Elections
• Building Code Enforcement
• Emergency Medical Services
• Emergency Management
• Mental Health
• Public Schools
• Property Assessment
• Register of Deeds
• School/Courthouse/Jail Facility Construction and Maintenance
• Sheriff's Office/Jail Operations
• Social Services
• Tax Administration

Cabarrus County also provides many non-mandated services, such as Active Living and Parks, the Public Library, the Cabarrus County Fair, etc. The County is not required to offer these services but opts to do so to improve local quality of life. For more information on what counties do, download the UNC School of Government online publication, "Local Government in North Carolina." https://www.sog.unc.edu/sites/www.sog.unc.edu/files/Local-Government-in-North-Carolina-1612811451.pdf

Education

Cabarrus County employees are available to answer questions for any resident who would like to learn more about how we operate--including how we budget! While the budget process and many funding requirements are set by the State, Cabarrus County staff are available to provide background on how we arrived at the FY25 budget recommendations.

The County also shares budget information through events (like Government 101 and Walk With Us tours), social media discussions, on its website, in the County's newsletter, and through programming on CabCo TV (Spectrum Channel 22 or youtube.com/cabarruscounty). To learn more about how you can connect with CabCo, visit https://www.cabarruscounty.us/Connect-with-CabCo.

Collaboration

While residents do not vote on funding for specific projects, each budget includes a contingency fund that your elected representatives on the Cabarrus County Board of Commissioners can use for one-time and/or emergency projects that come to them at any point in the fiscal year. Follow commissioner meetings in person or on youtube.com/cabarruscounty to see how the Board uses its discretionary funding. If you or your organization would like to propose a one-time project to the Board of Commissioners, contact the County Manager's Office at 704-920-2110.

Participation

Would you like to submit a formal or informal comment on the proposed FY25 budget?

• Review the recommended budget and write commissioners with your thoughts.
• Submit a question in the "Questions" tool on this site (requires registration)
• Contact the County Manager's Office at 704-920-2110

Cabarrus County Budget Glossary

Account Number: The accounting designation for revenue and expenditure line items. The account number consists of a three-digit fund number, a four-digit division and a four- or five-digit object code number.

Accrual Basis:  A basis of accounting in which transactions are recognized at the time they are incurred, as opposed to when cash is received or spent.

Ad Valorem Taxes:  Taxes levied on real and personal property based on assessed value.

Allocate:  To set apart budgeted funds for specific purposes (i.e., capital outlay).

Annual Budget:  A budget covering a single fiscal year (e.g., July 1-June 30).

Appropriation:  A specified dollar amount earmarked for a projected expense legally authorized by the Board of Commissioners.

Assessed Valuation:   The value of real estate and personal property as determined by tax assessors. This value is used as the basis for levying taxes.

Assessment:  The process of determining the value of real and personal property for taxation purposes.

Assessment Roll:  An official list of real and personal property containing legal descriptions, ownership and assessed values.

Asset:  A resource owned or held by a government which has monetary value.

Audit:  A formal examination of the organization's accounts or financial situation. 

Authority:  A municipal or other public agency that performs a specific function.  An authority is usually financed from fees or service charges imposed and collected by a governing body but may otherwise function independently.

Authorized Bonds:  Bonds that have been legally authorized, but that may or may not have been sold. Authorized bonds may be issued or sold at any time.

Authorized Positions:  Employee positions which are authorized in the adopted budget, to be filled during the year.

Balanced Budget:  Current operating revenues will be sufficient to support current operating expenditures.

Bond:  A written promise to pay a specific amount of money, called principal or face value at a specified future date, called the maturity date, along with periodic interest paid at a specified percentage of the principal (interest rate). Bonds are typically used for long-term debt to pay for specific capital expenditures.

Bond Refinancing:  The payoff and re-issuance of bonds, to obtain better interest rates and/or bond conditions.

Budget: A proposed plan for raising and spending money for specified programs, functions, activities or objectives during a fiscal year.

Budget Document:  A formal document presented to the Board of Commissioners containing the County's financial plan for a fiscal year. The budget document is presented in two phases -- preliminary and final. The final budget document reflects the budget as adopted by the Board of Commissioners.

Budget Message:  The County Manager's written overview of the proposed budget addressed to the Board of Commissioners. The budget message addresses the major budget issues against the background of financial experience in recent years, and presents recommendations made by the County Manager.

Budget Ordinance:  An ordinance that levies taxes and appropriates revenues for specified purposes, functions, activities or objectives during a fiscal year.

Budgetary Basis:  Refers to the basis of accounting used to estimate financing sources and uses in the budget. This generally takes one of three forms - GAAP, cash, or modified accrual.

Capital Asset:  Tangible property of significant value that has a useful life of more than one year. Includes such items as land, buildings, improvements other than buildings, and equipment.

Capital Budget:  A financial plan for projected capital projects containing expenditures and resources covering a fiscal year.

Capital Improvement Program:  A long-range plan of proposed capital improvement projects, which includes estimated project costs and funding over a specified period of years. The capital improvement program is updated annually to reassess capital needs during the preparation of the capital budget.

Capital Outlay:  Expenditures budgeted to purchase or add to fixed assets costing $5,000 or more.

Capital Project:  Major construction, acquisition or renovation activities which add value to a government’s physical assets or significantly increase their useful life. (Also called capital improvements.)

Capital Reserve Fund:  A fund established for the purpose of receiving transfers of monies from other funds in order to build fund balance for a future capital outlay or to set aside funds for future debt service payments.

Certificates of Participation:  Debt that is secured by the capital project itself and is issued without voter authorization.

Consumer Price Index (CPI):  A statistical description of price levels provided by the U.S. Department of Labor. The index is used as a measure of the increase in the cost of living (i.e., economic inflation).

Contingency:  An appropriation to cover unanticipated events that may occur during the fiscal year. The Board of Commissioners must approve all contingency transfers.

Continuation:  Budget requests that indicate the spending level required to maintain service provision at its current level.

Cost-of-living Adjustment (COLA):  An increase in salaries to offset the adverse effect of inflation on employees’ compensation.

County Appropriation:  Reflects discretionary general fund revenues used to meet an operating department’s cost. Most revenues in the general fund are not program linked and can be used to fund all operations. Several examples are Ad Valorem Taxes, Sales Taxes, Unrestricted Intergovernmental and Interest Earnings.

Debt Service:  The sum of money required to pay installments of principal and interest on bonds, notes, and other evidences of debt accruing within a fiscal year.

Deficit:  An excess of expenditures over revenue receipts.

Department:  An organizational unit responsible for carrying out a major government function.

Depreciation:  The expiration of service life of capital assets due to wear and tear, deterioration, inadequacy or obsolescence.

Disbursement:  Expenditure of monies from an account.

Distinguished Budget Presentation Awards Program:  A voluntary, annual awards program administered by the Government Finance Officers Association to encourage governments to prepare effective budget documents.

Encumbrance:  A financial commitment for services, contracts, or goods, which have not, as yet, been delivered or performed. Normally found in the form of a purchase order, contract, or formal agreement that is chargeable to an appropriation and for which a part of the appropriation is reserved.

Enterprise Fund:  A fund established to account for operations that are financed and operated in a manner similar to private business. The intent is that the full cost of providing goods or services be financed through charges and fees, thus removing the expense from the tax rate. The Landfill fund is an example.

Expenditures:  The amount of money actually paid or obligated for payment from County funds.

Expense:  Charges incurred (whether paid immediately or unpaid) for operations, maintenance, interest, or other charges.

Fiscal Year (FY):  An annual accounting period for the compilation of fiscal operations. As defined by North Carolina General Statutes G.S. 159-8, the fiscal year begins on July 1 and ends on June 30.

Fixed Assets:  Assets of a long-term character that are intended to continue to be held or used, such as land, buildings, improvements other than buildings, machinery and equipment.

Forecast:  An estimation of revenues and expenses for the current fiscal year to be used to determine the expected balances at the end of the year.

Full-time Equivalent Position (FTE):  The unit of accounting for employee positions where part-time positions are converted to the decimal equivalent of a full-time position based on 2,080 hours per year.

Fund:  A fiscal and accounting entity with a self-balancing set of accounts recording cash and other resources, together with all related liabilities and residual equities or balances, and changes therein, for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions or limitations.

Fund Balance:  Represents the excess of fund current assets over current liabilities. For accounting purposes, fund balance is calculated as of year-end and is based on the difference between actual revenues and expenditures for the fiscal year. If revenues exceed expenditures, fund balance is positive. Fund balance may be carried forward and appropriated to finance expenditures in the next fiscal year.

Generally Accepted Accounting Principles (GAAP):  Uniform minimum standard of and guidelines for financial accounting and reporting. These standards govern the form and content of an entity’s basic financial statements. GAAP encompasses the conventions, rules and procedures necessary to define acceptable accounting practices at a particular time.

General Fund:  A fund that provides for the accounting of all financial resources except those designated for other funds.  Most basic government services, such as public safety, tax administration, personnel and finance are accounted for in this fund.

General Obligation Bonds (GO):  Bonds issued by a government that are backed by the full faith and credit of its taxing authority.

Goal:  A statement of broad direction, purpose or intent based on the needs of the community.

Governmental Fund:  Funds generally used to account for tax-supported activities. The county has a general operating fund, special revenue funds and capital projects funds.

Grants:  A contribution or gift of cash or other assets, in most cases from another government, to be used for a specific purpose.  For example, a grant from the State of North Carolina may be made to finance a public health program.

Interest and Penalties Receivable on Taxes:  Uncollected interest and penalties on property taxes.

Interfund Accounts:  Accounts that reflect transfers between funds.

Intergovernmental Revenues:  Revenues from other governments (state, federal, other local) that can be in the form of grants, shared revenues or entitlements.

Internal Service Fund:  A fund established from the financing of goods or services provided by one department or agency to other departments or agencies on a cost reimbursement basis.

Lease-Purchase Agreement:  A contractual agreement by which capital assets are acquired over a period of time through lease payments.

Levy:  The amount of tax, service charges and assessments imposed by a government.

Liability:  Debt or other obligations arising out of transactions in the past which must be liquidated, renewed, or refunded at some future date. The term does not include encumbrances.

Long-term Debt:  Debt with a maturity of more than one year after the date of issuance.

Mandate - any responsibility, action or procedure that is imposed by one government on another through constitutional, legislative, administrative, executive or judicial action as a direct order, or that is required as a condition of aid.

Modified Accrual Accounting Basis:  Basis of accounting whereby revenues are recorded when measurable and available, and expenditures, with few exceptions, are recorded when goods and services are received and the liabilities for them are created.

Municipal Bond:  A bond issued by a state or local government.

Non-operating Revenues:  Income received by a government not directly attributable to providing a service. An example would be interest on investments.

Objective:  A specific statement about what is to be accomplished or achieved for a particular program during a given time period.

Operating Budget:  A plan of financial operation that encompasses an estimate of proposed expenditures for the fiscal year and the proposed means of financing them (revenues).

Ordinance:  A legislative enactment by the governing body of the County. It has the full force of law within the County if it is not in conflict with any higher form of law.

Performance Indicators:  Specific quantitative and qualitative measures of work performed as an objective of specific departments or programs. 

Performance Measure:  Data collected to determine how effective or efficient a program is in achieving its objectives.

Personnel Services:  Items of expenditures in the budget for salaries and wages paid for services by County employees, including fringe benefit costs associated with County employment.

Productivity:  Maximizing the use of resources (personnel and dollars) to achieve an effective result at the least possible cost.

Program:  A service or services for which expenditures are made from several general ledger accounts which are combined into a single budgetary unit.

Program Changes:  Budget requests that reflect funding requirements for a change in programs or service levels. 

Proprietary Funds:  Funds operated like a business and charging user fees.  Enterprise and Internal Service Funds fall within this classification.

Revenue Neutral Tax Rate:  The rate estimated to produce revenue for the next fiscal year equal to the revenue that would have been produced for the next fiscal year by the current tax rate if no reappraisal had occurred.

Referendum:  Presenting an issue to the voters of the County where a majority of voters decide on the issue.

Reserve:  An account designated for a portion of the fund balance to be used for a specific purpose.

Resources:  Total dollars available for appropriations including estimated revenues, fund transfers and beginning fund balances.

Revenue:  Income received by the County from various sources used to finance its operations.

Revenue Bonds:  When a government issues bonds that do not pledge the full faith and credit of the jurisdiction, it issues limited liability revenue bonds. Typically, pledges are made to dedicate one specific revenue source to repay these bonds.  Revenue bonds do not require voter approval under state law.

Revenue Estimates:  Formal estimate of how much revenue will be earned from a specific revenue source from some future period.

Revenue Neutral Tax Rate:  The rate estimated to produce revenue for the next fiscal year equal to the revenue that would have been produced for the next fiscal year by the current tax rate if no reappraisal had occurred.

Shared Revenues:  Revenues levied and collected by one government and shared with another on a pre-determined basis.

Service Area:  A title for the grouping of departments according to common areas of service.

Special Assessment:  A levy on certain properties to defray all or part of the costs associated with improvements or services that will benefit those properties.

Special Revenue Fund:  A fund used to account for proceeds of specific revenue sources that are legally restricted to expenditures for specified purposes.

Statute:  A written law enacted by a duly organized and constituted legislative body.

Tax Base:  The total assessed valuation of real property within the County.

Tax Levy:  The total amount of revenue to be raised from the property tax levied in the budget ordinance.

Tax Rate:  The amount of tax levied per $100 assessed valuation.

Taxes:  Compulsory charges levied by a government to finance services performed for the common benefit. This term does not include specific charges made against particular persons or property for current or permanent benefits such as special assessments. It does not include charges for services such as water and sewer service charges.

Tax Increment Financing (TIF):  Financing procedure used by many local governments for redevelopment and improvement projects on existing structures. The cost of the improvements is assessed to future tax revenues by each taxing unit that levies taxes against the property. The taxing unit at the local level is responsible for determining how much of the increase in property tax due to the improvement will be used to repay the construction costs. The property that is seeking to use tax increment financing must be located within the city’s jurisdiction.

Trust and Agency Fund:  A fund used to account for assets held by the County in a trustee capacity or as an agent for individuals, private organizations, other governments, and/or other funds.

Two-Thirds Bond:  General obligation bonds that can be issued by local government without voter authorization under a formula set by the state allowing issuance of bonds equal to two-thirds of the previous year's net debt reduction. 

Unencumbered Balance:  The amount of an appropriation that is neither expended nor encumbered.  It is basically the amount of money still available for future purposes.

Unreserved Fund Balance:  The portion of a fund’s balance that is not restricted for a specific purpose and is available for general appropriation.

User Charges:  The payment of a fee for direct receipt of a public service by the person benefiting from the service, such as utility charges and emergency medical fees.  Also known as user fees.  

Recommended Budget: The County Budget Officer (the County Manager) presents the Board of Commissioners with a recommendation for the tax rate and details for a balanced budget that funds County operations for the next year. The Board may accept, modify or reject the proposed budget. The public has the opportunity to view the budget and participate in a public hearing specific to the budget. 

Adopted Budget Ordinance: The Board of Commissioners must adopt an annual budget ordinance (adopted budget) to levy taxes and appropriate revenues for the fiscal year. It's the legal basis of the budgetary account system, making it necessary for the County to include all monies collected or received. It also stops the County from spending money for uses outside of those noted in the budget ordinance.

The Budget Ordinance includes several other requirements on what may or must be included in the budget ordinance, including:

• Levying of taxes (if it chooses to levy taxes)
• Money to cover all debt service payments for the fiscal year
• Money to cover all obligations due for the fiscal year under continuing (multi-year) contracts previously entered into, unless the Board reserved the right in one or more of the contracts to limit or not make the appropriation
• May include a contingency appropriation in each fund, as long as it doesn't exceed 5% of the total of all other appropriations in the same fund

Learn more about Adopting the Budget Ordinance at https://canons.sog.unc.edu/2012/06/faqs-on-adopting-the-budget-ordinance/

Cabarrus County offers residents many resources to help prevent and manage crises, including (but not limited to) Adult and Aging Services, Veterans Services, Child Support, Food and Nutrition Services, Medicaid, Weatherization and Behavioral/Mental Health.

From 2021 to 2024, Cabarrus County aided in the distribution of more than $33 million through the Federal American Rescue Plan Act (ARPA). The County used its allotment to fund local nonprofits that support food security, housing, mental health and education in Cabarrus County. The agencies are reimbursed for expenses that meet the project's Federal guidelines. 

For a list of crisis resources available to our community from the County and/or our local partners, visit https://www.cabarruscounty.us/Community-and-Public-Safety/Assistance-and-Benefits.

To learn more about the ARPA project and view the project dashboard, visit https://www.cabarruscounty.us/Connect-with-CabCo/Hot-Topics/Cabarrus-County-American-Rescue-Plan-Fund-Allocation.

Learn more about real and personal property tax exclusions (Homestead Exclusion for the Elderly or Disabled, the Disabled Veteran Exclusion and the Circuit Breaker Deferment) at https://www.cabarruscounty.us/Government/Departments/Tax-Administration/Land-Records/Real-and-Personal-Property-Tax-Exclusion.

State legislation gives counties a framework to understand what aspects of education they are responsible for funding. For instance, the policy says the state is responsible for instructional expenses (including personnel), while counties are responsible for facility needs (construction and maintenance).

Over the years, the Cabarrus County Board of Commissioners has chosen to fund local school salary supplements, school security, school nurses, technology, and more. These decisions have positively impacted school staff recruitment and retention.

Learn more at https://canons.sog.unc.edu/2010/04/county-responsibility-for-public-school-funding/.

Cabarrus County provides supplemental funding to our public school systems to enhance state funding. These supplemental funds pay for additional personnel, salary supplements for teachers and school administrators to help the schools attract and retain experienced and qualified teachers, and other needs requested by the schools.

However, final decisions on how these funds are used by the school systems rest with each Board of Education. The Board of County Commissioners does not dictate how these local funds are prioritized and spent. The County receives funding requests from each school system, reviews those requests and then decides on an amount to provide to the systems. Each Board of Education prioritizes how they will spend the funds from the County.

Through nearly 50 departments and divisions, Cabarrus County staff members work to address our community's greatest needs with professionalism and care. Learn more about County operations and contact our department representatives.

Visit https://www.cabarruscounty.us/Government/Departments

We've put the most frequently asked revaluation questions and their answers on the County's website. If you have questions that are still unanswered, contact Revaluation for assistance.  

Revaluation FAQ: https://www.cabarruscounty.us/Government/Departments/Tax-Administration/Tax-Revaluation/Revaluation-FAQs

Revaluation contact:
Michelle Seaford, Real Estate Manager
704-920-2325
revalinfo@cabarruscounty.us

Tax Exclusions
Learn more about real and personal property tax exclusions (Homestead Exclusion for the Elderly or Disabled, the Disabled Veteran Exclusion and the Circuit Breaker Deferment) at https://www.cabarruscounty.us/Government/Departments/Tax-Administration/Land-Records/Real-and-Personal-Property-Tax-Exclusion.

Shaping the FY25 Recommended Budget

Results of the County’s revaluation featured prominently during budget discussions due to unprecedented growth in real property values across Cabarrus.

The revaluation process is dictated by State law with minimal local control. Revaluations must occur at least every eight years, but the State can direct compliance sooner if values fall or rise more than 15% from the going market rate. 

Cabarrus values established on January 1, 2020 were determined to be more than 15% lower than market rates in 2022. That would have required a revaluation no later than January 1, 2025.

“Faced with this, the County followed Board policy and maintained the four-year revaluation cycle as recommended by the Department of Revenue," County Manager Mike Downs told the Board of Commissioners. “Although increases can cause sticker shock, data shows the results are not an outlier nor inconsistent with current market conditions.”

4-H: Head, Heart, Health and Hands (Cooperative Extension)

ALS:  Advanced Life Support

ARPA:  American Rescue Plan Act of 2021

ARRA:  American Recovery and Reinvestment Act 

BDN:  Benefit Delivery Network

BMP:  Best Management Practices

BOC:  Board of Commissioners

CAC:  Cabarrus Arts Council

CAFR:  Comprehensive Annual Financial Report

CAN:  Cabarrus Aging Network

CARES:  Capital Asset Realignment for Enhanced Services

CCS:  Cabarrus County Schools

CDBG:  Community Development Block Grant

CHAMPVA:  Civilian Health and Medical Program of the Department of Veterans Affairs

CIP:  Capital Improvement Program

CIF:  Capital Investment Fund

COPS    Certificates of Participation

COPS Grant: Community Oriented Policing Services grant

CPI:  Consumer Price Index

CRP:  Conservation Reserve Program

DARE:  Drug Abuse Resistance Education

DENR:  Department of Environment and Natural Resources

DHHS:  Department of Health and Human Services

DMV:  Division of Motor Vehicles

DOT:  Department of Transportation

ECA:  Extension and Community Association

EFNEP:  Expanded Food and Nutrition Program

EMS:  Emergency Medical Services

EOG:  End of Grade testing

EPA:  Environmental Protection Agency

EQIP:  Environmental Quality Incentive Program

ERG:  Emergency Response Group

FCC:  Federal Communications Commission

FTE:  Full-time Equivalent

FPY:  From Prior Year

FY:  Fiscal Year

GASB:  Governmental Accounting Standards Board

GFOA:  Government Finance Officers Association

GIS:  Geographic Information Systems

GO:  General Obligation Bonds

GRP:  Grassland Reserve Program

GSA:  General Services Administration

HAARP:  Heat And Air Repair Program

HAZMAT:  Hazardous Materials

HUD:  Housing and Urban Development

HVAC:  Heating, Ventilation, Air Conditioning

IPRB:  Installment Payment Revenue Bonds

KCS:  Kannapolis City Schools

NASA:  National Aeronautic and Space Agency

NCACSP:  North Carolina Agriculture Cost Share Program

NCSU:  North Carolina State University

NRCS:  Natural Resources Conservation Services

OPEB:  Other Post-Employment Benefits

RCCC:  Rowan Cabarrus Community College

SHRT:  Special Hazard Response Team

SOP:  Standard Operating Procedure

SRO:  School Resource Officer

SWCD:  Soil & Water Conservation District

TIF:  Tax Increment Financing

USDA:  United States Department of Agriculture

VA:  Veterans Affairs

WHIP:  Wildlife Habitat Incentives Program

Cabarrus County Government earned the distinction of a triple-A rating by Fitch Ratings and Moody’s Investors Service—two of three national bond rating agencies. Cabarrus achieved triple-A status for the first time in its history in 2022.

The rating positions the County—and in turn taxpayers—to save millions in interest over the next decade.

The triple-A rating is the highest available. According to the North Carolina State Treasurer’s Office, only 10 other counties have earned the distinction.

Cabarrus also maintained its AA+ rating with S&P Global Ratings.

According to the University of North Carolina School of Government, when a government agency wants to finance projects—usually one-time, large-scale capital (building) projects—it can take on debt. Nearly all this debt will be in the form of bonds that are guaranteed by the agency’s assets or property taxes. To secure the bonds, the agency must publicly market the debt it plans to take on through investment bankers.

Bond ratings directly affect the interest rates charged for the amount owed and the amount due on that debt.

“By upgrading the County to triple-A, Fitch and Moody's show the public and potential investors that Cabarrus practices conservative budgeting, develops comprehensive multi-year financial plans, and has strong governance that comes from leadership and policies,” said Board of Commissioners Chair Steve Morris. “These higher bond ratings will result in lower interest rates for the County, saving taxpayers money and enabling additional investments in critical capital projects.”

The status upgrade followed an April meeting between County leadership and bond rating experts. The meeting assessed the County’s:

• Economic health and stability
• Operational and fiscal management practices
• Economic development achievements

Cabarrus County Library & Active Living Center at Mt. Pleasant & Virginia Foil Park
FY25 Budget impact: Preparations and operations for this new facility

Sitework of the Cabarrus County Library and Active Living Center at Mt. Pleasant and Virginia Foil Park is underway with an anticipated opening in spring 2025. 

The roughly 20,000-square-foot facility will be located at 1111 N. Washington St., near Gordon Funeral Home of Mt. Pleasant and Cabarrus Family Medicine. When visitors walk through the main entrance, they’ll be greeted by an informational reception area directing patrons.

The current design for Virginia Foil Park features a playground, three ball fields, restrooms, storage area and concession stand, with several other amenities being considered.

The current Mt. Pleasant Active Living Center is owned by the town of Mt. Pleasant. The town has agreed to let the County continue their lease of the building as the Mt. Pleasant LunchPlus Club site. This will allow the County to continue providing nutritious meals to qualifying Cabarrus County residents ages 60 and above.

Cabarrus County Library & Active Living Center at Afton Ridge
FY25 Budget impact: Preparations and operations for this new facility

The Cabarrus County Library and Active Living Center at Afton Ridge will serve a rapidly growing part of Cabarrus. Construction is began in October 2023, with a projected opening of summer 2025.

Located at 6095 Glen Afton Blvd. near the Afton Ridge Shopping Center, the location will become the second library facility within the city limits of Kannapolis. The roughly 40,000-square-foot space will welcome visitors much like Mt. Pleasant, with a main entrance that opens to a lobby with an informational reception area directing patrons.

The new space will offer a modern aesthetic, while efficiently providing residents the services they seek.

Cabarrus libraries through the years

As with many community endeavors, library operations and funding have been a partnership among the County, municipalities and the public.

The current building of the Concord Branch opened in February of 1977. At the time it was owned and operated by the City of Concord, with Cabarrus County covering about 50% of the annual operating expenses.

In planning for the building, the mayor and aldermen of Concord announced 100% support for the new $1 million library, as well as a commitment to not use tax increases or bonds for funding.

The Canon Foundation pledged $500,000 and the mayor stated the remainder of the cost would come from federal revenue sharing. A group of residents—Concord-Cabarrus Friends of the Library—was formed in 1974 to raise additional money and support for the building.

In 1983, the North Carolina General Assembly appropriated $50,000 to build a public library in Kannapolis. The funds were placed in an interest-bearing account for a future date. In June of that same year, Cabarrus-Kannapolis Friends of the Library was formed to support development.

In 1984, Cabarrus County Commissioners voted to earmark $600,000 over the next two years to build the facility, prompted by the availability of a challenge grant that would provide $500,000 for the project if the remainder of the estimated $1.277 million cost was committed.

The Cannon Mills Company donated the land and architectural services, and the Cannon Trust provided the challenge grant. Library planners projected the General Assembly would allocate another $100,000 in the June 1984 budget session to complete the required amount.

The Kannapolis branch officially opened on January 9, 1986, making a Cabarrus County multi-library system a reality.

In keeping with the partnership tradition started by the Concord and Kannapolis Branches, the Mt. Pleasant Branch opened in August of 1996 with funding from the County, Friends of the Mt. Pleasant Public Library, private donations and the Town of Mt. Pleasant.

Friends of the Mt. Pleasant Library raised $325,000 to build, furnish and landscape the library. County Commissioners committed to accept the library as a gift once built, assuming operating costs and agreeing to buy the library’s collection for $100,000.

The land, then worth $30,000, was donated. The Cannon Foundation pledged up to $100,000 as a matching challenge, pledging one dollar for every two dollars raised from other sources. The town of Mt. Pleasant pledged $65,000 for the matching challenge, and $25,000 for furnishings. The County committed $17,000 from a state grant.

The Harrisburg Library opened in July 2001. Harrisburg Friends of the Library raised $1.3 million to build and furnish the facility, with the County funding operating costs and collections. Of the money raised by Friends of the Library, $150,000 was from the Canon Foundation, $528,415 was from a federal block grant allocated by the town of Harrisburg, and $50,000 was from the town for architectural fees. The land was also acquired by the town of Harrisburg.

The County’s newest branch, Midland, opened in January of 2019, after operating Mobile Mondays on the first and third Mondays of the month since January of 2017.

During the ribbon-cutting ceremony for the Midland branch, Midland Magic (a group of locals who put together a community festival with venders, carnival rides, fireworks, bands and more) presented the Friends of the Midland Library with a $10,000 donation.

At the time, one community services coordinator supervised the branch, working with two part-time assistants. A senior library assistant floater position was added to the library system in 2020 and covers Midland frequently. In January 2021, one full-time position was added to the staff and hours were extended.

To meet the continuing increased demand for services at the Midland Branch, two new positions and an increase in part-time position hours for the proposed schedule expansion was included in the County’s FY24 Budget.

The County’s population continues to grow. An estimated 240,512 residents call Cabarrus home as of 2023. That growth results in higher property values and increased sales tax collections, which increase revenue. Growth also brings extra expenses to sustain services. Nearly a quarter of the County population is under the age of 18, increasing the demand and funding needed for school facilities.