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Hope Mills residents could see an increase in property taxes

BY EMILY BROWN | CityView staff

During a special budget workshop meeting on Monday, Hope Mills commissioners and staff discussed the city’s proposed 2024-2025 budget of nearly $18.4 million, with the board making some minor adjustments to the items.

According to Mayor Jessie Bellflowers, the proposal includes the first property tax increase in more than a dozen years.

The Commission is moving towards approving the budget, with an increase in property taxes

What happened: Commissioners discussed at length the proposed $18,394,000 budget for the 2024-2025 fiscal year, asking city staff to make minor changes to some department line items while remaining on track to approve the balanced proposal. While most of the evening’s conversation focused on the city’s operations, commissioners also addressed a proposed property tax rate increase, which is part of the budget proposal. They argued that the 5-cent increase from $0.46 per $100 of assessed value to $0.51 per $100 of assessed value was necessary for a balanced budget. The budget proposal also includes a 2% cost-of-living adjustment for city employees.

Why it matters: If the budget, with the proposed increase in property tax, is adopted, a resident living in a home with an assessed value of $200,000 would pay an additional $100 in property taxes annually, according to city staff.
What’s next: Residents will have the opportunity to comment on the budget proposal at a public hearing during the board’s next meeting, scheduled for June 3 at 7 p.m. at City Hall. The commissioners can then vote to approve the budget at that meeting.

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