Council Approves 2020 Budget and Tax Rate

At its September 10 meeting, the City Council adopted the Fiscal Year (FY) 2020 budget and tax rate. The FY2020 tax rate is $0.583500 per $100 of valuation, which is effectively a 6.13 percent increase in the tax rate. This rate exceeds the effective tax rate of $0.552371, but is not higher than the rollback rate of $0.591133, which is the highest rate the Town may adopt before voters are entitled to petition for an election to limit the rate to the rollback rate. The proposed tax is higher than last year's adopted tax rate of $0.550000 per $100 of valuation.

The FY2020 operating budget includes an appropriation of $93.9 million plus an additional $41.5 million for the Capital Improvement Projects budget.
You can watch the Council's budget discussion here and tax rate discussion here.