Affordable housing

June 19. Davidson residents most severely impacted by Mecklenburg County’s new tax assessments may find relief thanks to a $22,000 grant from the Davidson Community Foundation to the Town of Davidson.

The one-time grant can help up to 100 residents with immediate challenges around the town’s portion of property tax assessments.

Mecklenburg County has additional relief to low-income property owners who qualify. The foundation’s grant will be administered by the town.

“The new tax assessments were shocking to many residents, particularly in historic West Davidson,” said Dave Cable, chair of the Davidson Foundation. “After this emergency assistance gives our neighbors time to adjust to the higher tax bills, we plan to support education about tax relief resources and other nonprofit programs.”

Tax increase

The Davidson Board of Commissioners approved a 2023-24 spending plan of 26.6 cents per $100 of assessed valuation, 3 cents above revenue neutral.

One penny of the three-cent increase as well as a portion of the Town’s sales tax is dedicated to establishing recurring funding for investment in affordable housing. Support for affordable housing comes from the town’s core values and has been reinforced by citizen input for many years.

Background

Since its inception in 2020, the Davidson Community Foundation has provided emergency grants through local nonprofit organizations, first to assist with COVID relief and now to assist with property tax support. The citizen-driven foundation’s goal is to build and distribute funding to address Davidson’s most pressing needs, including affordable housing.