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Lookout Mountain board adopts proposed budget on first reading, proposes 6.4% tax increase
Summary
On April 11 the Town of Lookout Mountain board adopted a proposed fiscal-year budget on first reading that includes a 6.4% property tax increase (to $2.15 per $100 assessed value) and a 3% salary increase; the board also authorized an auditor services contract.
The Mayor and Board of Commissioners of the Town of Lookout Mountain adopted a proposed fiscal-year budget on first reading at their April 11 meeting and authorized a contract with the town’s auditors.
Jenifer Waycaster presented the financial report through March 2023 and reviewed a proposed budget that includes a 6.4% increase in the property tax rate — to $2.15 per $100 of assessed value — and a 3% salary increase for town employees. Waycaster attributed the proposed tax increase to the final phase-out of the state Hall income tax, reduced revenue sharing and the loss of revenue from the operation of the Lookout Mountain Incline Railway. The board voted unanimously to adopt the proposal on first reading.
The board also considered and unanimously authorized the mayor to execute a contract for auditor services for the upcoming year. The approval followed Waycaster’s presentation of the auditor’s proposal.
The motions were recorded as unanimous. The board did not set a final adoption date in the minutes; the budget remains at first reading pending any further hearings or procedural steps required by town ordinance.
