The Finance Department is responsible for establishing and maintaining an accounting and reporting system in accordance with NC General Statutes, federal laws and regulations and generally accepted accounting principles. We manage all aspects of the town’s finances to ensure financial stability and responsible stewardship, adhering to principles of integrity, quality, collaboration, and customer service.
Monthly financial dashboards summarize cash positions and cash flows, as well as compare revenues and expenditures to current year budget and prior fiscal year.An annual independent audit is performed on the Town’s financial statements for the fiscal year which ends June 30.
The Town operates under an annual balanced budget ordinance. The annual budget, developed after careful consideration, levies taxes and allocates resources in a manner that effectively reflects the priorities of the governing body.
Property taxes are assessed at a rate which is applied to every $100 of property value.
The Town of Davidson tax rate is $0.35 per $100 of assessed property value. The chart below is based on our FY 2017 approved budget.
Mecklenburg County tax rate is $0.8157 per $100 of assessed property value.
Iredell County tax rate is $0.485 per $100 of assessed property value.
To calculate your tax bill, take the value of your property, divide by 100, and multiply by the corresponding tax rate or rates above.
Development of a balanced budget is a fundamental responsibility of local government governing bodies -- North Carolina general statutes govern the requirements of the budget development process. The board of commissioners and town staff work diligently to establish goals and priorities which started at our retreat in January. Those priorities are supported through the budget. In Davidson, the town manager is the budget officer for the town. His responsibility is to prepare and present the board of commissioners with a proposed budget each year. He works closely with staff to project revenues and expenditures for the upcoming fiscal year.
On June 14, 2016, the Davidson Board of Commissioners approved the budget for the July 1, 2016 – June 30, 2017 fiscal year.