On Aug. 19, council approved directing staff to proceed to have an ad valorem tax rate for fiscal year 2024-25 at $0.343111 per $100 of assessed valuation—the same as this year's rate. A public hearing will be held Sept. 9. The budget and tax rate are set for adoption on Sept. 16.
Zooming in
At the August meeting, concern was expressed by some council members about the initial proposed tax rate on the agenda—$0.366346 per $100 of assessed valuation—being higher this year than the current rate, so they asked staff to reduce the proposed rate to the FY 2023-24 rate.
“The maximum is that $0.366346 [rate], but the sentiment is staff will go back and look at it, and do what we can to get it to $0.343111 as close as we can,” Town Administrator Erika McComis told council.
To get the tax rate lower than the proposed $0.366346 per $100 of assessed valuation, some cuts will have to be made to the budget, which will be sent to council for evaluation before the Sept. 9 meeting.
Town officials did not provide of budget figures, as those numbers are being determined.
