Tax rate remains same as new fiscal year starts in Mount Gilead

Today marks the start of the new fiscal year for the Town of Mount Gilead, and last week, town commissioners adopted the new budget for 2014-15.

130618_Budget_Sign_SMThe property tax rate for Mount Gilead residents remains at 57 cents per $100 value, which is collected in addition to the county property tax, which is also 57 cents per $100 value.

In her budget summary to commissioners, Town Manager Katrina Tatum said tax collection remains in the 90th percentile. She added that the state government’s new policy of collecting motor vehicle taxes simultaneously with vehicle registration “has proven to be very positive for the Town, as reflected in the addition income receive to date under the current fiscal year’s budget.”

The total municipal operating budget is nearly $2.26 million, with the largest single departmental expenditure being the Police Department, at more than $463,000. The amount designated for Town Administration is nearly $125,000, and the Fire Department is budgeted at over $105,000.

The new budget is effective today and runs through June 30, 2015. The full budget can be seen at Town Hall. Click here to see a budget summary provided by the Town.

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