By Tiffany Thompson, Staff Writer
Wednesday, July 10, 2013 —
Richfield residents will see an increase in their property taxes in the upcoming year following the town council’s vote to adopt the 2013-2014 budget June 24.
The budget calls for an increase of $.02, which changes the rate from $.15 to $.17 per $100 valuation.
“This is the first time we’ve had a tax increase in probably 20 years, which is pretty unique for a town our size,” Town Administrator Carolyn Capps said.
Council voted for the tax increase to help offset proposed reductions in the state budget that will do away with the business license tax for municipalities.
Richfield’s budget also provides for a $2 increase in the base sewer rate. Rates will increase from $25 to $27 for residential services and from $30 to $32 for commercial.
Capps said the increase will be used to help offset maintenance and repair costs for the sewer system.
Currently the town pays $122,000 a year to Stanly County for sewer debt. An additional $40,000 remains of the debt service from when the town installed the sewer system.
According to the adopted budget, the town will operate on approximately $480,000, which is split between the sewer fund ($195,200) and the general fund ($284,200).
Also during the meeting, rezoning requests for four properties along U.S. 52 North were made. The requests would change the zoning from residential to highway business. No decision was made on the requests at the meeting.
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