The Town of Taylorsville’s Board of Commissioners approved a new budget for fiscal year 2016-2017 at their Tuesday meeting. The budget totals $3.7 million which is .8 percent more than the past year. The new budget keeps the current tax rate at 34 cents per $100 valuation and also does not include a hike in water or sewer rates. Taylorsville tax payers have not seen a tax hike since 1979. Town manager David Odom pointed out that the fund balance has decreased by almost 50% in the past year due to the expense of tree work.