Following a summer of budget workshops, the city of Oak Ridge North unanimously approved its fiscal year 2017-18 city budget on Aug. 28 and lowered its property tax rate for the sixth consecutive year. City officials said the new property tax rate for FY 2017-18 is 44 cents per $100 valuation, which is a decrease compared to the 45 cent rate from FY 2016-17. The rate is expected to raise a total of $679,274 for the city. City Manager Vicky Rudy said the new tax rate will lower taxes on a home appraised at $100,000 by approximately $2.80. “The decrease is due to a commitment to lowering the tax rate,” Rudy said. “It has been accomplished by a combination of increased values, primarily an increase in commercial property values.” The city also has planned a total of $3,180,401 toward the capital improvements fund for FY 2017-18. Rudy said the city’s largest capital undertaking for FY 2017-18 will be the construction of a regional water detention facility. “The [facility] is part of the Community Development Block Grant program through Montgomery County,” Rudy said. “We are eligible for around $800,000 through this program." Rudy said the regional detention facility will be located on Spring Pines Drive and provide relief to the flood channel and additional storage for the drainage system. Besides the detention facility project, Rudy said the city will budget $150,000 to continue progressing toward Robinson Road engineering studies. The city is also budgeting $140,000 to include a turning lane at the city's business park. "Both of these projects are critical to the future of Oak Ridge North," she said. Although the tax rate was lowered for FY 2017-18, city officials predict Oak Ridge North will not reach the projected sales tax revenue amount of $2,084,658 for FY 2017-18 and will fall short at $1.8 million. The setback comes as a result of the Crowne City Plaza Hotel’s failure to materialize. “We project a shortage of the budgeted sales tax revenue,” Rudy said. “However, the sales tax revenue for FY 2017 is pretty much equal to FY 2016. We had allowed for an increase due to the hotel construction, which did not occur. Sales tax, otherwise, remains healthy in the city.” Mayor Jim Kuykendall said other new business that are coming to the Oak Ridge North area, like Obstacle Warrior Kids, are expected to help raise sales tax revenue. “I’m guardedly optimistic that the sales tax is going to increase,” Kuykendall said.