Chapel Hill Tax Hike Estimated at Five Cents
Mayor Kevin Foy announced at a Town budget public hearing in late March that property owners should expect around a five cent per $100 valuation property tax increase. Foy reminded those in attendance that Chapel Hill has a high quality of life and that there are costs associated with maintaining that quality. Two items having a major toll on the budget are the Town's new Operations Center and the Aquatics Center. The construction of both centers doubled the Town's debt load from $32 million to $70 million. A five cent increase in property tax amounts to $100 per year for a $200,000 home. The next budget work session is scheduled for April 16 and the budget is expected to be adopted on June 9.
From: The Herald Sun
