Oak Ridge council adopts FY2024–25 budget, keeps tax rate at 8 cents

The Town of Oak Ridge council on June 6 approved the fiscal year 2024–25 budget, preserving the town's property tax rate at 8 cents per $100 of assessed value and including funding for planned park and water projects.

Town staff presented a budget message describing projected revenue growth of about 4.5% and an expected 9.5% increase in operating expenses driven mainly by personnel and maintenance needs for new park facilities. The proposed capital work includes a 250,000-gallon elevated water storage tank and a 3.2-mile water line to connect to regional utilities; the town manager said those water projects will be funded through separate capital project ordinances and covered by federal, state and county grants.

Stuart Meese, chair of the finance committee, recommended the budget after committee review. Supporters on the council said the plan balances continuing investments in parks, the Farmhouse Community Center and the Veterans Honor Garden with conservative revenue estimates; opponents urged consideration of tax relief for residents but did not secure the votes to lower the rate.

Key budget details included maintaining the current tax rate adopted in 2017, an anticipated fund balance above $2 million at fiscal year end, and allocations for park staffing, trail design and sidewalk engineering. Council members discussed the timing of budget hearings and the extent of public opportunity to review the package before final vote.

The council voted to adopt the budget ordinance and ratify the fiscal plan for FY2024–25; the motion carried on a voice vote.

What this means locally: the town manager and finance staff will proceed with capital project ordinances for the water tank and waterline, design work on trails and sidewalks, and hiring additional park staff to operate new facilities planned to open this year.