Finance & Budget

Overview
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.

Financial Statements

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.

Monthly Financial Dashboards 

Audited Financial Statement

Budget

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. All Property was revalued in Mecklenburg and Iredell Counties with an effective date of January 1, 2019, which will affect the property tax bills distributed in July, 2019.
  • Effective for FY2020, the Town of Davidson tax rate is $0.29 per $100 of assessed property value. The chart below is based on our FY 2020 approved budget.
  • Effective for FY2020, the Mecklenburg County tax rate is $0.6169 per $100 of assessed property value.
  • Iredell County tax rate is $0.5275 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. 
How Tax Dollars Are Allocated
Final Expense Chart
revenue pie chart