Town of Richfield passes budget; property tax rate to remain at 22 cents
The Richfield town council passed the 2019-2020 budget last night.
Not changes were made between the proposed budget and the one that passed.
The town of Richfield’s 2019-2020 annual budget details that the property tax rate remain at 22 cents per $100 valuation.
The total budget expenditure is $339,000.
Stanly County will be taking over the town’s sewer utility services for the fiscal year, Town Administrator Carolyn Capps said.
This budget includes $134,000 for administration, $117,000 for police and trash collection, $62,500 for parks and recreation and $25,000 for Powell funds.
The revenue also totals $339,000 and includes $130,000 in property taxes, $100,000 in sales tax, $42,000 in franchise tax and $25,000 in Powell Bill.
The budget calls for a 6 percent salary increase for employees and $28,000 for parks and recreation was earmarked to remove a pond dam at Tyson Park, Capps said.