The Chapel Hill Town Council unanimously adopted a $96 million dollar budget on Monday night which includes the second property tax rate increase in two years.

“The budget is balanced with a 1-cent tax increase, restoring the debt fund capacity almost to where it was before the recession started,” said Town Manager Roger Stancil.

With Monday’s vote, the town’s property tax rate rises to 52.4 cents per hundred dollars of assessed value.

Council members decided last week the added penny is needed to help replenish the town’s debt management fund, which will increase the town’s borrowing power by about $10 million before 2017.

Supporters say that will help the town take on big projects like bikeways, parks, and new police and fire stations sooner rather than later. The 2014-2015 budget also includes increased funding for road resurfacing, $400,000 to help finance new buses, and money to hire a youth services coordinator.

In addition, the Council also allocated nearly $700,000 to fund affordable housing initiatives, a move applauded by housing advocates including Habitat for Humanity Director Susan Levy.

“I think all of that who are involved in affordable housing and have been over the years are really heartened by this commitment on your part,” said Levy. “I think it was a bold and a brave thing to do and I just want to say how much we appreciate it.”

Though the budget was approved in just six minutes, Council members assured the public the plan had been fully vetted at a pair of work sessions last week.

“We are not just rubber-stamping a budget here,” said Mayor pro Tem Sally Greene. “We’ve really given this a lot of consideration.”

Chapel Hill has set its tax rate for the next year, but Orange County Commissioners have not yet finalized their budget, which could include an increase in the county-wide property tax rate, or a hike in the Chapel Hill-Carrboro Schools special district tax.

The board will discuss the county budget at a work session Tuesday at 7 o’clock at the Link Government Center in Hillsborough.

Related Stories
‹
Orange County Preps for Revenue-Neutral Property Tax Rate Discussion; Board Chair Shares Threshold to Watch for Property Value
The Orange County Board of Commissioners will discuss the county's updated revenue-neutral property tax rate at its meeting on Tuesday, with the board chair revealing the threshold for how much property owners will see increases.
Governor Rolls Out School Safety Funding Pitch at Cedar Ridge High School
Governor Roy Cooper was shuffling through the hallways and offices of Cedar Ridge High School on Thursday, meeting with school support personnel – counselors, the school nurse. Cooper said these were vital roles for public education in North Carolina. “Often, people who could make more money doing something else,” Cooper said, “decide they want to […]
Orange County Loses Authority to Assess Impact Fees
Orange county can no longer charge fees on new residential construction to help pay for anticipated schools and other infrastructure after legislators accused local officials of abusing their authority with high rates. The Senate voted 35-13 on Monday to repeal the county’s power to charge impact fees, originally sanctioned 30 years ago. The repeal now […]
NC House Votes to Repeal Orange County Impact Fees
Orange County may soon be searching for funds to fill an estimated $5 million gap for schools. Two bills being considered in the North Carolina General Assembly that could impact Orange County funding sources passed the House on Tuesday. House Bills 406 and 436 passed the House ahead of the upcoming crossover deadline. Bills that […]
Orange County Commissioners Could Finalize Additional School Funding at Tuesday Meeting
Orange County Commissioners voted on Thursday night to increase the amount of funding for the two local school districts to approximately $5.4 million above what the county manager recommended. The increase brings the per-pupil spending for both districts to an estimated $3,868, which is still short of what the two districts requested. Commissioner Barry Jacobs […]
CHCCS Faces $900k Budget Gap And Loss of 22 TAs
With the new state spending plan in place, Chapel Hill-Carrboro City Schools are facing a nearly one million dollar budget gap.
NCGA Budget Impasse Leaves Local TA's In Limbo
Nearly 100 teaching assistants in the Chapel Hill-Carrboro school system are in limbo, waiting to find out if they’ll still have jobs when school starts.
Local Schools In Limbo Awaiting State Budget
As state lawmakers wrangle over the budget, Chapel Hill-Carrboro school officials are struggling to anticipate how funding cuts will impact local classrooms.
OC Approves 2-Cent Property Tax Hike
Orange County Commissioners on Tuesday approved the first property tax rate increase in five years.
Chapel Hill Approves Budget With 1-Cent Tax Rate Hike
If you live in Chapel Hill, your property tax bill is going up next year.
›