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Hillsborough proposes budget

Posted on May 11, 2011May 11, 2011 by Staff

The Town of Hillsborough’s proposed budget for fiscal year 2012 includes no increase in the property-tax rate but does raise rates for water and sewer service.

General fund expenses would decrease 17.5 percent from 2011 and water/sewer fund expenses would decrease by 9.1 percent.

To maintain the current tax rate of 62 cents per $100 of assessed valuation – $1,550 on a house valued at $250,000 – six positions are proposed for elimination as well as a combination of service-level reductions, efficiency improvements and cuts in spending. The assistant town manager/public works director position, which is filled, is proposed for elimination, along with five positions that are vacant.

Hillsborough’s multi-year financial plan shows significant deficits projected in the second and third years: $512,770 in FY13 and $783,459 in FY14, equating to property tax increases of 7.3 cents in FY13 and 3.9 cents in FY14.

A 5.9 percent increase in water rates and an 8.8 percent increase in sewer rates are proposed to pay for rebuilding much of the town’s aging water and sewer system. The proposed water-rate increase would cost an extra 43 cents per 1,000 gallons for in-town customers and 84 cents for out-of-town customers. The proposed sewer rate increase would mean an additional 70 cents per 1,000 gallons for in-town customers and $1.37 for out-of-town customers.

The proposed budget can be found at ci.hillsborough.nc.us/sites/default/files/BUDGET_DOCUMENT_FY12_RECOMMENDED.pdf

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