Seadrift City Council held its first of many budget meetings Tuesday, July 21, regarding the 2020-21 property tax rate.
Last year the rate increased by two cents, but this year the proposed rate remains unchanged at 56 cents per $100 valuation, according to Mayor Elmer DeForest.
The council reviewed the following budget items: General Fund/ Capital Outlay, Utility Fund Budget/Capital Outlays, Solid Waste Budget/Proposed Capital Outlay, Harbor Fund Budget / Proposed Capital Outlay, Hotel-Motel Tax Fund/Proposed Capital Outlay, and the FEMA CDL Budget.
DeForest said there are a lot of changes and minor adjustments for the General Fund based on “past revenue and some other adjustments.”
“We do have higher tax evaluations due to new construction we added in the city in the past fiscal year,” DeForest said.
DeForest added the high tax evaluations are helping the city get by without raising the tax rate.
The council will hold additional budget meetings at 6:30 p.m. on Tuesday, July 28, and Tuesday, August 4.