Proposed Durham County budget includes tax increase
Posted May 28, 2014
Durham, N.C. — The 2014-15 budget that Durham County Manager Wendell Davis rolled out Tuesday night to the Board of Commissioners calls for a 2.73-cent increase in the county's property tax rate.
The proposed increase would add about $41 to the annual tax bill for a $150,000 home. If the increase is approved, Durham County's new tax rate would be 80.17 cents per $100 valuation.
Davis called the $552,364,861 spending plan a “maintenance budget” that provides no new services and primarily shores up existing service levels.
Of the proposed increase to the tax rate, 0.86 cent would go to debt obligations on financed projects, 0.87 cent to General Fund operations and 1 cent to support “human capital,” or the initial implementation of an employee compensation study, Davis said.
The budget is 4.92 percent larger than the 2013-14 budget. Funding to Durham Public Schools is mostly flat, Davis said, noting the district would receive $118.9 million for operations, $1.4 million for capital projects and $30.2 million for debt service from the county.
The Board of Commissioners has scheduled work sessions at 1 p.m. Thursday, 9 a.m. Friday and 1 p.m. on June 10 and June 12 to review the budget. A public hearing will be held at 7 p.m. June 9.
Commissioners are expected to vote on the final spending plan on June 23. The new fiscal year begins July 1.