Town of Spruce Pine Raises Property Tax in Latest Budget

The fiscal budget just passed by the Spruce Pine Town Council included an 11 cent tax increase after the Town Council voted unanimously to approve the measure during a special session meeting on June 30th. The Property tax within the town limits rose from the previous 40 cents per $100 of property value to 51 cents. The Town of Spruce Pine general fund is currently balanced at $2,004,000 while the water and sewer fund is balanced at $2,141,355. The budget uses $87,236 out of the fund balance to balance the budget. There were no public comments during the scheduled hearing and no further discussion from council members following the vote.

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Topics : Business_FinanceSocial Issues
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Locations : Spruce Pine
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