New Spartanburg City Budget Increases Spending due to Local Economic Growth
Overview
The city of Spartanburg has officially adopted the new city budget for the fiscal year of 2024-25, which represents a 5% increase from the previous fiscal year. This revenue boost primarily originates from property tax and business licensure. The unanimous approval of the $53.5 million budget not only exhibits the city’s continued economic growth but is also devoid of any tax rate or fee increases.
Revenue Boosts
The main revenue generators for the city of Spartanburg—property tax, business license, and hospitality tax—projected noticeable increases. The upcoming fiscal year anticipates property tax projections to jump by over $1 million, resting at $20.6 million. Likewise, business license revenue is projected to rise from $8.1 million to $8.7 million. The Hospitality Tax, which draws from the 2% tax on city dining, is also projected to rise, reaching $7.2 million.
Allocating the Budget
Of the total budget, $35,385,539 is allocated for personnel services, which caters to employee salaries and benefits—including a 3% cost of living adjustment for all city employees. This also funds the step pay increases to maintain competitive city employee wages. The budget also earmarks $15,470,193 for the police department, $8,706,385 for the fire department, and $10,031,392 for public services, which fund the Public Works Department. This department is responsible for grounds maintenance, street maintenance, traffic services, city vehicle maintenance, and solid waste management.
A Boost For City Events
Apart from funding city departments, the budget also increases spending on city events through the allocation of Hospitality Tax Discretionary Funding. A total of $275,500—4% of the Hospitality Tax funds—has been allocated for city events. This includes major events such as Music on Main, Spring Fling, International Festival, Dickens of a Christmas, and Juneteenth, all of which have seen increased budgets. The events budget also provides resources for additional holiday programming and decorations.
This new budget also allocates $526,763 of Hospitality Tax Discretionary Funding to top recipients like the Chapman Cultural Center, One Spartanburg, Shrine Bowl of the Carolinas, and Partners for Active Living.
The new budget, reflecting the city’s local economic growth, is expected to contribute to Spartanburg’s evolving landscape—both physically and culturally—through the development of public services and support for city events.
For more information on the new budget and other city developments, stay tuned here on HERE News Network.
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