No tax increase for city residents

Staff Writer

Citizens and property owners in the city will not get a tax increase this year, the first time in three years that Grenada’s millage rate is remaining the same.
The city held its public hearing Thursday which allowed people to speak about the 61.19 millage rate. After Ward Two City Councilman Fredreick “Pete” Wilson opened the floor no one spoke publicly.
After closing the public meeting, City Manager Trey Baker thanked each of the council members for their work during this summer’s budget hearing.
Ward Six Councilman Larry Vance made the motion to adopt  and it was seconded by Ward Four Ernest Hargrove.  The vote to adopt the millage rate passed unanimously.
For the next fiscal year, the proposed budget has a total projected revenue of $13,484,066. Of that amount, $6,631,366 or 49 percent is proposed to be financed through ad valorem tax levy.
The city is now operating with a projected total budget revenue of $13,327,544, and of that $6,104,259 or 45.8 percent is obtained through ad valorem taxes.

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