06/09/05 — Proposed Mount Olive budget maintains property tax rate

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Proposed Mount Olive budget maintains property tax rate

By Bonnie Edwards
Published in News on June 9, 2005 1:48 PM

MOUNT OLIVE -- The town of Mount Olive will hold a public hearing on its proposed 2005-2006 budget on Monday, June 20, at 10 a.m. at the town hall.

Town Manager Ray McDonald proposed no increase in the current tax rate of 59 cents per $100 valution of property.

But McDonald is proposing a raise of 2.5 percent for town employees.

The proposed budget contains a general fund of $2.4 million, which is $22,000 more than the current year.

The budget proposal calls for an increase in the cost of the solid waste disposal fee of $1 per month.

McDonald said he expects the town's water and sewer services to become self-sustaining for the first time in the town's history. The water and sewer fund has previously required a subsidy from the town's general fund to remain in the black, but McDonald said he believes the anticipated income of $1.5 million from water and sewer bills will cover the department's expenses.