Commissioners in Bladenboro voted 5-1 in favor of a two cent property tax increase for the 2014-2015 fiscal year. This means a house valued at $100,000 will incur an additional $20 property tax per year.
The two cent increase was recommended to supplement the fund balance until the debt payments and other expenses can be reduced.
Bladenboro is currently working to reduce some of its debt payments, which accounts for $100,451 coming out of the general fund annual.
In the past, the administration has sold several assets of the town to bring additional income to the general fund balance. According to town officials, there are no assets left to sell.
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