Waxhaw Commissioners Weigh How to Fund Future Infrastructure Needs

Waxhaw commissioners are beginning to weigh how the town should pay for millions of dollars in future infrastructure as officials try to balance continued growth with maintaining healthy cash reserves. They discussed this with Davenport Public Finance.

A scenario floated during the meeting was a 1.49-cent increase in the property tax rate. The goal of this increase would be to maintain stability while leaving cash reserves at around 30% to 40%. This scenario would also assume that the expected growth rates for Waxhaw cooperate. It was made clear in the meeting that these were only scenarios and not a proposed or approved tax hike.

Another scenario discussed was the potential use of GO bonds, which would result in Waxhaw voters deciding whether to approve the specific bond and its implications on things like estimated lifetime interest and property tax impacts. It was also emphasized that in this scenario a GO bond would not be approved just because a town wants it, as it would still be up to North Carolina’s Local Government Commission to approve it.

No decision was made during the meeting. Town officials said the discussion was intended to help commissioners evaluate different financial approaches, with infrastructure funding and long-term budget planning expected to continue in future meetings.