City of Hickory issued the following announcement on May 16.
City Manager Warren Wood delivered his Fiscal Year (FY) 2022-2023 Recommended Budget to the Hickory City Council on May 17. The Recommended Budget totals $126,206,168 for all City operations, capital improvements, and debt service requirements for the upcoming year.
Key components of the budget include:
General Fund (Main Operating Fund): A budget of $63,141,435 is recommended, which represents a 7 percent increase over the current year’s budget. The property tax rate for FY2022-2023 is recommended to remain 62.75 cents per $100 of assessed value. A new property tax rate is anticipated with the FY2023-2024 annual budget due to the County-wide revaluation of property that will take effect during that fiscal year. Significant increases in property values are expected in Catawba County’s next revaluation, which will likely result in a reduction of Hickory’s current property tax rate.
Water and Sewer Fund: A 3 percent increase in utility rates is recommended to maintain infrastructure and the enterprise fund’s self-sufficiency, while still maintaining a competitive rate when compared to systems across the state. The average utility bill for a Hickory customer is $57.68; this rate increase will result in an increase of $1.73 per month on the average utility bill.
Solid Waste Fund: An increase of $1.00 is recommended to bring the monthly sanitation rate up to $26.00 per month for the upcoming fiscal year. The Solid Waste Fund is self-supporting, and this increase will help to offset increases in fuel and labor costs.
Learn more: https://www.hickorync.gov/hickorys-fiscal-year-2022-2023...
Review the full FY22-23 Recommended Budget: https://www.hickorync.gov/budget
Original source can be found here.
Source: City of Hickory
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