September Budget Hearings

The Town Council held a tentative budget hearing on September 11, 2023. The first of two budget hearings this month, pursuant to statutory requirements. The Town Council adopted a tentative millage rate and associated budget. On September 18, 2023, the Town Council will adopt the final millage rate and annual budget for the fiscal year that will start October 1, 2023 and end September 30, 2024.

At the tentative budget hearing, the Town Council adopted a tentative millage rate equal to the rolled back rate of 1.0008. The rolled back rate is the millage rate estimated to result in the same level of Ad Valorem Taxes (property taxes) as collected in the current year. For the current year, the tax rate is 1.1 mills. Because gross estimated property values increased since that millage rate was adopted, the rolled back rate is lower than the current year's rate. 

At the final budget hearing, the Town Council will select the final millage rate, which can only be the same as or lower than the tentative millage rate. This will be the rate actually used to levy property taxes for the Town in the new fiscal year. Budget hearings are open to the public and public participation is encouraged. 

More detail is available on the budget page of this website.