No tax hike but water and sewer rates rise
MOUNT JACKSON — The town council unanimously approved the fiscal year 2018 budget at Tuesday night’s monthly meeting.
The approved budget is almost $4.8 million, an $800,000 increase from the 2017 budget.
The general fund expects to see revenue and expenses at just over $2 million while the enterprise fund, which encompasses water, sewer and sanitation, expects to see an increase in revenue and expenses to the tune of almost $2.1 million. Both of those numbers are up from last year when they were both under $2 million.
Residents can expect another year without tax rate increases, as the property tax will stay at 14 cents for every $100 of assessed value and the personal property tax will stay at 80 cents for every $100. There will be, however, a 35 cent rise in both water and sewer rates, bringing them up to $6.95 and $12.20 a month for every 1,000 gallons, respectively.
Cigarette, motels, and meals taxes will remain the same at 45 cents per pack, 5 percent and 5.5 percent respectively.
The capital projects fund will have a revenue and expense budget of $465,200 while the equipment replacement fund will be at $211,300.
The new budget will take effect July 1,. Any interested residents can view a more detailed breakdown of the budget on the Mount Jackson town website, http://www.mountjackson.com.