Beginning Aug. 28 and continuing through Tuesday, Dec. 11, a series of monthly meetings will explain to City Council members and the public how Asheville allocates over $180 million to provide a range of services. The first session set the general context for the budget through a discussion of community demographics and major city revenue streams.
The resolution sets the stage for the county to reimburse itself through bonds should it initially finance planned construction projects with operating funds. According to Internal Revenue Service regulations, wrote Interim County Manager George Wood, a bond resolution must precede spending money on projects that might later be refinanced using bonds.
“Recently released and already delivered for your viewing pleasure is a new “stealth thriller” — your 2017-18 property tax bill.”
“With the status quo untouched, the undeserving are to be driven out, and property speculators large and small allowed to run riot before moving on to their next victim, leaving our city a smoldering wreck in their rear-view mirrors.”
Asheville City Council pondered the effect of an average 25 percent increase in the value of property in the city, along with the impact of a $74 million bond referendum, at its first of three work sessions dedicated to drafting the city’s budget for the 2017-18 fiscal year on Tuesday, March 14.
“Now the housing market is really booming and — surprise! — they want to do another reassessment.”