The base budget is $20.95 million, which is a 1.7% increase over last year’s budget, according to a press release.
The tax rate will be decreased from $0.56302 to $.0546825. The assessed valuation is a 7% increase in property tax revenue, and sales tax revenues are projected to increase by 2.8%.
Key initiatives and projects in the budget include the continuation of the school resource officer program, the resurfacing of Doubletree Ranch Park’s splash pad and the installation of fencing, a drainage improvement plan, the reconstruction of streets, the completion of the Chapel Hill trail connection and an increase in overtime for police officers.
The final approval of the budget will be considered at a special meeting Sept. 20.
