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Budget approved, no tax increase

Published: 10:12 AM, 07/23/2013 Last updated: 10:12 AM, 07/23/2013

Author: Rick Hooper
Source: The Newport Plain Talk

NEWPORT-Members of the Cocke County Legislative Body's Finance Committee tentatively completed work on the 2013-14 budget Tuesday without the need for a property tax increase.

The property tax rate will remain at $2.40 per $100 of assessed value and the county will have $262,118 in its unassigned fund balance for the General Fund.

Committee members discussed the possibility of providing raises for county employees but decided to take a "wait and see" approach and see what funds are available later in the budget year, possibly providing bonuses if funds allow.

Committee Norman Smith initiated the discussion.

For more details, please see the Tuesday edition of the Newport Plain Talk.

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