Granite Shoals city council members Tuesday tentatively approved a budget for next year that calls for a tax rate increase of slightly more than three cents per $100 property valuation, but that’s intended to address some of the city’s capital improvement needs.
The new tax rate would be 54.17 cents, up from the current rate of 50.8 cents. The proposed budget anticipates revenues of $6,631,108, up from this year’s $5,122,281 by more than $1.5 million. The budget predicts that will balance the expected expenditures, which increase from this year by only $265,946.
“The city cannot address all of its needs in any single budget year,” City Manager Sarah Novo wrote in submitting the budget to the council. “However,” she continued, “working together, the city’s staff and elected and appointed officials will continue to use a multi-year approach so that the city’s longterm objectives of a sustainable, superior quality of life for the residents of Granite Shoals can be realized.”
