Thursday, August 29, 2013Author: Nelson Morais
(Last modified: 2013-08-29 09:28:46)
Source: The Newport Plain Talk
NEWPORT-The property tax rate will remain the same this fiscal year, according to a 2013-2014 budget that the Newport City Council approved in a first reading on Tuesday, Aug. 27.
The property tax rate will remain at $1.74 per assessed $100. Finchum said it has remained at that rate for 12 years.
"I don't think there's an ounce of fat in this budget. It's a tight budget," said interim city administrator James Finchum at a workshop preceding a called meeting that City Council members attended.
The 2013-2014 fiscal year budget projects $10,222,508 in total revenue, and $10,215,879 in expenditures, which would result in unappropriated discretionary funds of $6,626, according to the budget presented to City Council.
For more details, please see the Thursday edition of the Newport Plain Talk.
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