New Hillsborough Financial Plan Keeps Property Taxes Stable

The first draft of a new three-year financial plan for Hillsborough has been released by the municipal government, with town officials having reviewed it during a retreat held last Saturday.

Under the new plan, the town manager will adjust the local tax rate to maintain the same amount of revenue while ensuring that no changes in property taxes will have to be made.

This strategy will enable the town to celebrate its fifth consecutive year without a tax rate increase, but a planned inflation of vehicle fees may stifle any feelings of jubilation among residents.

According to a release from the municipal government, those fees will increase from $10 to $30 in order to help the town pay for street resurfacing that will cost nearly $400,000.

Town Manager Eric Peterson explained that compromises had to be made while formulating the plan, but the release cited a wide variety of recommended municipal improvements.

Those recommendations include the purchase of ten new vehicles for the Hillsborough Police Department as well as a million-dollar renovation of the town hall campus.

Town officials may also flirt with fiber internet by considering whether an existing network could be leased in order to provide residents with high-speed online connections.

Residents are encouraged to discuss the plan with the Hillsborough Board of Commissioners at a public address scheduled for March 27 in the Whitted Human Services Center.

Photo by Orange County Visitors Bureau.

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