Bladenboro town looking for alternate funds - WECT TV6-WECT.com:News, weather & sports Wilmington, NC

Bladenboro town administration proposing property tax increase

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Interim Town Administrator Melanie Hester is recommending the two cent increase to supplement the fund balance until the debt payments can be reduced. Interim Town Administrator Melanie Hester is recommending the two cent increase to supplement the fund balance until the debt payments can be reduced.
BLADENBORO, NC (WECT) -

The administration in Bladenboro has sold several assets of the town in the past few years. to bring in additional income to the general fund balance. According to town officials, there are no assets left to sell.

Bladenboro is working to reduce some of their debt payments, which accounts for $100,451 coming out of the general fund annually.

The new administration is proposing a two cent property tax increase per $100 be included in the 2014-2015 budget. For example, a house valued at $100,000 would incur and additional $20 property tax per year.

"We've got nothing left to sell," said Mayor Rufus Duckworth, "we need a long term solution."

Interim Town Administrator Melanie Hester is recommending the two cent increase to supplement the fund balance until the debt payments and other expenses can be reduced.

The town commissioners will discuss the plan at a budget proposal at a workshop on Monday.

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