Greenville council to hold final hearings on annual budget, tax rate tonight
The council is expected to lower the property tax rate to mitigate the effect of rising property values.
Greenville residents will have a final opportunity to weigh in on the city’s upcoming annual budget tonight. The Greenville City Council is scheduled to hold its final hearings on the next fiscal year’s budget and tax rates at this evening’s regular meeting of the council. At last month’s council meeting, city manager Summer Spurlock reported to the council that vales on new properties in Greenville rose about 49 percent over the past year. Spurlock said overall, property values went up about 15 percent.
With rising property values in mind, the city council is expected to lower the property tax rate for the eighth consecutive year. The Greenville Herald Banner reports recent council work sessions have proposed a rate of 55.9 cents per $100 of property valuation. That’s one cent lower than the current rate.
Budget hearings and other council business – scheduled to begin at 6 p.m. this evening, at the Greenville Municipal Building, located downtown at 2821 Washington St.