New London’s property tax rate to remain at 16 cents
Published 11:11 pm Thursday, May 16, 2019
New London’s 2019-2020 proposed annual budget recommends that the property tax rate remain at 16 cents per $100 valuation.
The total proposed budget for New London for fiscal year 2019-2020 is $1,101,975.
This is slightly lower than the current budget’s total of $1,223,600.
The proposed budget includes $799,000 for the general fund, $271,025 for the water and sewer, $23,600 for the Powell Street fund and $8,350 for the cemetery fund.
For the general fund, $40,000 is allotted for possible improvements to the town’s museum and for Town Hall.
The town also received a N.C. Parks and Recreation Trust Fund grant of $275,000 to develop a park on North Main Street and the town’s portion for the project is projected to be $400,000 to complete the project.
The budget will be voted on during the June 6 council meeting. The proposed budget is available for review at the New London Town Hall.
About Chris Miller
Chris Miller has been with the SNAP since January 2019. He is a graduate of NC State and received his Master's in Journalism from the University of Maryland. He previously wrote for the Capital News Service in Annapolis, where many of his stories on immigration and culture were published in national papers via the AP wire.
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