Possible Tax Increase for Holly Springs
A 0.3 mills increase will be voted on later this month.
Holly Springs is looking to make a millage rate increase to avoid a $100,000 deficit.
At the City Council work session Thursday night, Finance Director Robert Logan proposed new millage rate of 5.469 over the current 5.148 mills.
The increase is set to make up for the $18,660,171 reduction in value after the recent reassessment in real property value in the city, Logan said.
So how will this increase affect residents?
“Most people won’t see an increase in their taxes if their property was reassessed,” Logan said.
A public hearing will be held on Sept. 19 at 6:30 p.m. in the Public Safety Building to discuss the rate increase.
Other agenda issues discussed at the work session included a flat rate of $50 for insurance companies that file claims inside city limits and adding additional cars to the Holly Springs Police Department.
Pending council approval, Red Ribbon Week to prevent the use of drugs in Holly Springs, will be Oct. 24-29.