The Taylorsville Town Board of Commissioners will meet today. The board will consider a recommendation for a budget increase and a property tax increase.
Last Monday, Town Manager David Odom proposed a budget increase of 6.3 percent and an increase in the town property tax rate of 6 cents per $100 valuation. Odom notes that the town’s fund balance has dropped from over 27 percent in 2015 to only 12.1 percent currently. Odom notes a number of factors including more than $200,000 spent in tree trimming and removal over the course of the last year in various locations around town.
The last time Taylorsville tax payers had a rate increase was in 1976 when the rate went up from 75 cents to 78 cents per $100 valuation. Since then the town has dropped property taxes six times to the current rate of 34 cents. The increase if approved would take the property tax rate to 40 cents per $100 valuation.
Tonight’s meeting will be held at Town Hall beginning at 5:30pm