Norwood’s proposed $5.8 million budget to keep tax rate at 39 cents
Published 12:18 pm Friday, June 3, 2022
- Norwood, North Carolina
Getting your Trinity Audio player ready...
|
The town of Norwood’s proposed 2022-2023 budget keeps the tax rate at 39 cents per $100 valuation.
Residential solid waste fees are projected to increase to $12 a month (was $11 for current fiscal year) while small commercial solid waste fees will remain the same at $14 a month.
The budget totals $5.8 million, an increase from the previous fiscal year’s budget of $5.2 million, of which about $3 million will go to the town’s General Fund. This includes $1.2 million for the police department, $525,000 for the sanitation department, $476,000 for administration, $341,000 for council, $337,000 for the street department, $124,000 for parks and recreation and $63,000 for cemetery department.
Powell Funds total $244,000, which includes $130,000 for street paving and resurfacing, $45,000 for sidewalks and $30,000 each for maintenance and curb and gutter.
The Enterprise Fund totals roughly $2.5 million which includes $1.7 million for field operations, $513,000 for water plant operations and $245,000 for wastewater plant operations.
The General Fund revenue, which also totals $3 million, includes $1.4 million in real property taxes, $823,000 in local option sales tax, $155,000 in utility franchise tax and $153,000 in garbage collection. Other revenues make up $280,000.
Copies of the budget ordinance are on file with the town clerk, the governing board and the finance officer.
The town council will hold a public hearing and vote on the budget during its meeting Monday night.