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Town manager previews revenue picture, proposes 5‑year CIP funded by 6‑cent levy
Summary
Town staff told council that property‑tax valuations and some revenue sources are stable; a proposed five‑year CIP funded by a 6‑cent levy and a mix of debt and cash includes police vehicle rotation, a potential garbage truck and sewer work — council will review financing and rate implications.
The town manager presented a revenue update at the budget workshop and outlined the town’s proposed five‑year capital improvement program (CIP), funded in part by 6 cents of the property tax levy.
Key revenue points: the manager said the budgeted taxable value was $1.897 billion and that actual build for the current fiscal year was $1.917 billion; he noted recent updated estimates will be used for the recommended budget and projected modest growth (roughly 1–2%). Sales tax has been volatile but is trending back up,…
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