The towns of Hillsborough and Carrboro both recently adopted their budgets for the 2021-22 fiscal year, which will go in effect July 1.
Carrboro town staff proposed a $71.7 million budget which was approved during a council meeting June 22. Of this budget, $25 million is dedicated to general fund expenditures, which includes budgets for the town police and fire department.
Carrboro general government services is allocated roughly $6 million and public safety $7 million.
To meet the proposed general fund expenditures, revenue is collected from sources like fees, permits, sales tax and property tax.
Carrboro Town Manager David Andrews presented the budget at the meeting. He said property taxes make up 58 percent of the town’s revenue base and sales taxes make up 20 percent.
Andrews said the town did recommend a one-half cent increase in the property tax rate dedicated to providing affordable housing. This is the third and final installment of the penny and a half increase for more affordable housing in Carrboro.
“That would make the total rate 58.94 cents for the general fund and a penny and a half for the affordable housing for a total of 60.44 cents per $100 of assessed valuation,” Andrews said.
This is the eleventh year since the 58.94 cents property rate was established that it has not increased other than the penny and a half for affordable housing.
A few days after the Town of Carrboro adopted its new fiscal year budget, the Town of Hillsborough did the same. The total budget approved Monday is roughly $26 million, which includes $13.3 million within the general fund.
The property tax rate is currently valued at 62 cents per $100. During budget discussions, the Hillsborough board approved changing the rate to 58.7 cents per $100 ― 2 cents above a revenue-neutral rate following Orange County’s property revaluation this spring. Commissioners said the decision is to accrue funding for the town’s Comprehensive Sustainability Plan, which is currently in development and will be implemented in coming years.
Another change was within the water and sewer fund – which has a $11.4 million budget. This change lowers the minimum usage charge from 2,500 gallons to 2,375 gallons per month.
Hillsborough Mayor Jenn Weaver said the Fiscal Year 2021-22 budget has a lot for the town to “feel good about.”
“We’re able to fund some things that we’ve needed to fund for a long time,” Weaver said. “I also think that our board has had some of our very best discussions in the past couple months throughout this budget process.”
For more details on the Carrboro budget, visit the town government’s website. Hillsborough also has details of its budget on the town government’s website.
Chapelboro.com does not charge subscription fees. You can support local journalism and our mission to serve the community. Contribute today – every single dollar matters.
Comments on Chapelboro are moderated according to our Community Guidelines