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Belmont proposes $25.8 million general fund, holds tax rate and recommends 10.5% water and sewer hikes
Summary
City Manager Miles Braswell presented a proposed FY2025'26 balanced budget that holds the tax rate at 0.455 per $100 and calls for a $25,796,545 general fund, with proposed 10.5% increases for both water and sewer user fees to fund capital work and cover revenue shortfalls.
City Manager Miles Braswell presented Belmont's proposed FY2025'26 budget on May 5, telling the council the recommended general fund budget is $25,796,545 and the administration proposes to keep the tax rate at 0.455 per $100 of assessed value. "The proposed balanced budget is $25,796,545," Braswell said during his presentation.
The proposal would increase the water and sewer user fees by 10.5% each, after an earlier 8.5% increase that staff said did not produce expected revenue to fund expenses and the capital-improvement…
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