Cornelius Town Manager Anthony Roberts will present his recommended FY2012 budget Monday, May 23 at 5 p.m. at Town Hall, 21445 Catawba Ave.
Town Board members discussed the latest draft of the budget during their regular board meeting Monday night, May 16. The draft is little changed from the plan commissioners have been discussing since the board retreat in March, which includes money for way-finding signs and other improvements to the Catawba corridor, adjustments to town employee salaries, construction and operations for the Westmoreland Athletic Complex and Robbins Park, and other items.
Board members have said they want a revenue neutral tax rate for next year. An exact calculation based on the state-mandated formula would put the rate at 25.2 cents per $100 of assessed value, down from the current 27.5 cents per $100 of assessed value. Mr. Roberts said Monday night that he expects to recommend a rate that’s actually slightly below that – between 24.5 and 25 cents per $100 of assessed value. That would make it the lowest among N.C. towns of similar populations.
Following Mr. Roberts’ presentation, the board will discuss further the budget and town business items.