Oakboro Town Council to discuss upcoming fiscal year’s budget
Published 10:19 am Tuesday, June 15, 2021
The Oakboro budget proposed for the 2021-22 fiscal year will not have any increases in tax rates or water/sewer prices, town officials say.
However, the new budget shows the town will receive increases in revenue. Projections for the 2021-22 fiscal year show the town expects an increase of $110,585 from property tax. The increased revenue, Town Administrator Doug Burgess said, will come from new housing builds and the overall revaluation of property.
Burgess said no fees charged by the town will be increased next year, nor will the tax rate, which currently is 41 cents per $100 valuation.
Oakboro has also budgeted to receive an increase of $63,200 in sales tax revenue this coming year. Overall, revenues are expected to be up to $1,763,455, an increase of $143,725 from last year.
In terms of expenses, administration salaries will increase $25,000 while zoning expenses increase $10,000 and a comprehensive growth plan will cost the town $20,000.
The town also expects to pay just under $12,000 more for public safety and $13,000 more for fire protection.
Salaries in the Parks and Recreation department will also increase by $26,800.
The budget will be on the upcoming agenda for the next meeting of the Oakboro Town Council, which is Monday.