Oak Ridge Today

Council to consider budget, tax rate increase

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The Oak Ridge City Council will consider the municipal budget and a proposed two-cent tax rate increase on Monday evening, June 3.

The two-cent tax rate increase would raise the property tax rate from $2.54 per $100 of assessed value to $2.56. It would be the second tax rate increase in the past two years after about a decade of no tax rate increases.

Each cent on the property tax rate generates about $80,000 in revenue.

The city’s general fund is about $26.2 million, and its total budget, including all funds such as school funds and utility funds, is roughly $210 million.

The budget has to be considered in two readings, or meetings. Tonight’s vote is the first reading. The second and final reading will be on Monday, June 10.

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City proposes one-cent tax rate increase; schools’ request would add seven

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Mark Watson

Mark Watson

Note: This story was last updated at 3:18 a.m. June 2.

The budget proposed by the Oak Ridge city staff on Monday includes a one-cent increase in the property tax rate. It would help maintain city services and allow for a 2 percent pay raise for city employees, Oak Ridge City Manager Mark Watson told City Council members.

Meanwhile, the budget proposed by Oak Ridge Schools asks for the equivalent of a seven-cent tax increase. It would help cover a deficit and add money for salaries and staff, including a 3 percent pay raise. That budget has already been approved by the Oak Ridge Board of Education.

The two requests total eight cents. They were presented to the Oak Ridge City Council on Monday.

It’s not clear yet if the seven-member City Council will agree to any increases for the city or schools. The Council will consider the budget in the first of two readings on Monday, June 8, and on second and final reading on Monday, June 15. [Read more…]

City, schools to present budgets to Council today

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Mark Watson

Mark Watson

Note: This story was updated at 9:23 a.m.

The municipal and school budgets will be presented to the Oak Ridge City Council during a meeting this evening (Monday, June 1).

The municipal budget will be presented by Oak Ridge City Manager Mark Watson. The schools budget will be presented by Oak Ridge Schools Superintendent Bruce Borchers.

The meeting starts at 7 p.m. today in the Oak Ridge Municipal Building Courtroom at 200 South Tulane Avenue. See the agenda here.

City officials have been striving to present a budget that does not include a property tax rate increase. But it wasn’t clear as of last week if that would be possible because of a dramatic drop in sales tax revenues from the Roane County portion of the city. [Read more…]

Council considers budget tonight

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Oak Ridge City Council Budget Meeting

The Oak Ridge City Council will consider the municipal budget, which is not expected to raise property taxes, during a second and final reading Tuesday evening.

The Oak Ridge City Council will consider the municipal budget on second and final reading tonight.

If approved, the budget would not raise property taxes, but it would give employees a 1 percent pay raise and add another $50,000 for the Oak Ridge Chamber of Commerce contract.

Tonight’s meeting also includes a presentation of the Oak Ridge Schools’ budget, which was approved on second and final reading on Thursday. [Read more…]