Mills River increases tax to cover deficit, approves budget

From the Hendersonville Times-News:

Mills River Town Council members unanimously approved a $1.4 million budget for 2012-13 that includes a 1-cent tax increase.

The increase will raise the rate to 2.24 cents. A homeowner with a property tax value of $200,000 would pay $20 more. The total tax rate for Mills River residents, including the 71/2-cent fire tax, will now be 9.74 cents, Town Manager Jaime Laughter said.

The tax increase will bring in $70,452 for town services, such as street lighting, fire protection, planning and zoning, parks and recreation, and supplemental police protection. The town’s budget also provides support for the library and economic development.

The 2012-13 operating and capital budget includes a 2 percent performance increase and a 2.6 percent cost-of-living increase for the town’s four full-time workers. The newly adopted budget restores the practice of contributing to the town’s fund balance with a $110,742 contribution, the town manager said. The town currently has a fund balance of $2.8 million, she added.


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