GUILFORD COUNTY, N.C. (WGHP) — The Guilford County government proposed a $855 million budget for the fiscal year in 2023, according to a GCG news release.
Guilford County’s Manager Michael Halford presented his Fiscal Year (FY) 2023 recommended budget to the Board of County Commissioners during its regular meeting on Thursday.
The recommended total for all budgeted funds is $855 million with a general fund total of $777 million.
The recommended budget expands investments in public education, funds major school facility capital needs and addresses widespread recruiting and retention challenges, especially in public safety and human services areas, by aligning the County’s compensation structure to current labor market trends.
The recommended budget keeps the county’s property tax rate even at 0.7305 cents per $100 of assessed property value. The revenue-neutral tax rate is 0.5954 cents per $100 of assessed property value based on the state’s prescribed calculation.
Following reappraisal, at the median home value, a homeowner will pay an additional $418 per
year or $35 per month in general property tax.
The expanded investment in education includes:
- An additional $73.6 million for education to support the operating and capital needs of Guilford County Public Schools and Guilford Technical Community College.
- $251.6 million for Guilford County Schools that includes $241 million to support operations, a $16 million increase over the FY2022 adopted budget, which is the largest one-year increase for school funding. It also includes $10 million for school capital outlay, a $6 million increase over FY2022, to address ongoing school capital maintenance.
- $19.7 million for Guilford Technical Community College, a $1.6 million increase over
FY2022, for operating and capital needs.
- $50 million for future education capital needs based on the voter-approved bond referendum passed on Tuesday. This $50 million increase will begin to fund Guilford County’s School’s known school facility needs to implement the school capital master plan.
- The recommended budget includes 51 new positions to address service demands, improve the
County’s ability to manage and protect public assets, and bring the County into compliance with
standard staffing ratios. Many of these positions are partially or fully funded by federal and/or
state revenues. In total, the County has about 5.3 positions for every 1,000 residents, one of the
lowest staffing ratios in the state.
- Recommends the County move to a four-year reappraisal cycle, so property value assessments
more closely match current market values. A more frequent reappraisal cycle minimizes large
increases that can occur over longer cycles and more promptly adjusts values based on market
conditions. This next property reappraisal will occur in 2026 and be reflected in the FY2027
- Guilford County has 24 fire protection and service districts that provide fire response service in
areas of the county not serviced by a municipal fire department. The primary funding for each
district is property tax revenue generated by a special district tax. Recommended tax rates for
fire districts are included in the budget.
Tentatively scheduled for May 26 and June 8, the Board will hold public work sessions dedicated to the
Fiscal Year 2023 begins on July 1, 2022, and runs through June 30, 2023. For more information about the
FY2023 Recommended Budget, click here.