Wednesday, 16 May 2018 04:52

Budget For Upcoming Fiscal Year Presented To Hickory City Council, No Property Tax Hike

Hickory City Manager Warren Wood presented his Fiscal Year 2018-2019 recommended budget to City Council on Tuesday (May 15). The recommended budget totals $103,801,956 for all City operations, capital improvements, and debt service requirements for the upcoming year. The property tax rate will remain the same. Hickory City Council will hold a public hearing on the FY 2018-2019 recommended budget on Tuesday, June 5, at 7 p.m. during its regular City Council meeting at the Julian G. Whitener Municipal Building in Council Chambers.

In the City’s General Fund, its main operating fund, property tax revenues are expected to increase 3.5% over the prior year. This is due to commercial and residential growth in the City’s tax base over the past twelve months. Additionally, sales tax revenues are projected to increase by 4.0%, as Hickory continues to be a hub of retail activity in the region.

In the Water and Sewer fund, which is fully supported by user fees, a 2.1% increase in utility rates is recommended based on the Consumer Price Index and to maintain its infrastructure.

In an ongoing effort to promote self-sufficiency within the Solid Waste Fund, the monthly sanitation rate will increase from $20.50 to $22.50, while still maintaining a lower cost than many municipalities across the state. With this increase, the Solid Waste Fund will be 100% self-supporting in Fiscal Year 2018-2019.

Hickory’s recommended budget for the upcoming fiscal year and Hickory City Council’s 2018-2019 Priorities and Action Plan that will detail the many goals and specific spending recommendations for the coming year is available for public review at the City of Hickory's website, to be directed to that site click here. Additionally, a copy of the budget can be viewed at City Hall, Patrick Beaver Memorial Library, or the Ridgeview Branch Library. City Council welcomes public input regarding the recommended budget at the June 5 Council meeting.

Read 241 times Last modified on Wednesday, 16 May 2018 08:05

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