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Surgoinsville board advances FY2025 budget and raises town tax rate to 1.10
Summary
The Board of Mayor and Aldermen approved first reading of the FY2025 budget and agreed to increase the town tax rate to 1.10 for the coming fiscal year; the board also adopted a FY2024 budget amendment and noted that financial reports were not available at the meeting.
The Surgoinsville Board of Mayor and Aldermen voted April 8 to advance the town’s fiscal year 2025 budget on first reading and to set the town tax rate at 1.10 for FY2025.
Vice Mayor Jarnagin moved to accept Ordinance No. 173-2024, the annual budget for the fiscal year beginning July 1, 2024, and ending June 30, 2025; Alderman Bishop seconded the motion, and the board approved it by roll call. The board also adopted Ordinance No. 171-2024, Budget Amendment #1 for FY2024, on second and final reading with a unanimous roll‑call vote earlier in the meeting.
Mayor Graham and board members discussed projected revenue and expenditures as part of the FY2025 package before agreeing to the tax-rate change. The minutes record only that “an increase in Tax Rate to 1.10 will be implemented for FY2025”; the document does not include the underlying tax‑revenue estimate or a detailed budget worksheet in the meeting packet and notes that official financial reports were not available at the meeting.
The board approved the FY2025 budget on first reading, meaning the ordinance moves forward for final consideration consistent with local procedure. No public comment was received at the public hearing held before the meeting. The board’s next regular meeting is scheduled for May 13, 2024, where follow-up budget actions or additional hearings could appear on the agenda.
