May 7, 2017
By Mickey Powell
MARTINSVILLE – A roughly $92 million budget proposal for the new fiscal year that will start July 1 is expected to receive Martinsville City Council’s final approval Tuesday night.
Reserve funds are to be used to balance the spending plan, in which expenditures are greater than anticipated revenues by about $2.4 million.
Water, sewer and electric rates are proposed not to change, as are tax rates for real estate, vehicles and business machinery and tools. A proposed hike of almost 1 ½ percent in the real estate tax rate already has been defeated by the council.
A half-cent increase in the city’s “meals tax” on prepared foods, from 6 ½ cents to 7 cents a dollar, remains in the budget proposal, as does a cigarette tax hike from 20 cents to 30 cents a pack.
The budget proposal originally included cuts to the city schools and the police and fire departments. The council has since decided to dip into its reserves to level fund those operations.
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