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Mayor Carey has transmitted to the Council a proposed fiscal year 2019 budget. The tax rate proposed is .59 per $100 of assessed value, an increase of 1.82 cents (.0182) from the fiscal year 2018 tax rate of .5718. This is also an increase of 5.2 cents (.052) per $100 of assessed value from the Constant Yield Tax Rate of .538. Of this increase, 3.1 cents (.031) is to cover the cost of hiring a Town Manager. The remaining 2.1 cents (.021) is to fund other increased expenditures which are itemized, including salary and benefit increases.
The proposed budget will be presented and discussed at the April 9 Council meeting at the University Park Elementary School in the media center/library at 7:30 p.m. A constant yield tax rate hearing will be held at the April 23 Council meeting.