The Gaston County Board of Commissioners has passed a $420 million budget for the fiscal year 2025, with a 1.1 cent reduction in the property tax rate.Â
By the numbers: The general fund, with a gross budget of $340 million, is a 5% increase from the budget from fiscal year 2024.
The property tax will decrease to 59.9 cents per $100 of assessed value.
The decrease comes a little more than a year after a revaluation that increased the value of homes in Gaston County.
Last year, in response to the revaluation, the Board of Commissioners lowered the tax rate 20 cents, to 61 cents per $100 of assessed value.
Despite lowering the tax rate, the largest source of projected revenue for the county's general fund is property taxes, which total $200 million in projected income for the fiscal year 2025. That amount, according to the county, is based on a projected assessed valuation of $34.3 billion, a 4% increase from fiscal year 2024.Â
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