UPDATE: Signal Mountain officials decide not to vote on property tax increase
UPDATE: Signal Mountain officials decided not to vote on a proposed 22 percent property tax hike at Monday night's meeting.
Mayor Landrum says the increase is the only way to meet the requirements for the 2019-2020 budget, but other members want more time to come up with another plan.
Once council members vote to accept a budget, it will be drafted into an ordinance that requires two readings and a public hearing.
The mayor says they will try again to discuss the budget on the first Monday in June.
PREVIOUS STORY: The Mayor of Signal Mountain said residents can expect a 22% tax increase.
Mayor Dan Landrum released his Mayor's Report about the 2019-2020 budget Friday. He posted his report on Facebook.
In his report, the mayor said budget meetings are now complete, and Monday night, councilors will vote to accept or reject the budget in its current form. The meeting will take place at 6:00 pm at Town Hall, which is located at 111 Ridgeway Avenue.
The budget includes a tax increase of 22%, Landrum explained. This means the Town of Signal Mountain property tax will rise from 1.5665 to 1.9218.
"I might as well just jump to what hopefully won't come as too much of a surprise. There will be a tax increase," Landrum said.
Mayor Landrum said if councilors vote to accept the budget, Town Manager Boyd Veal will draft the proposed budget ordinance.
"Budget ordinances require two readings and a public hearing. We have no more May meetings scheduled after the 13th, but with two in June, we should be able to complete the final steps before the new fiscal year begins July 1," Mayor Landrum explained.
The mayor also outlined the process that goes into putting the budget together and the reasons for the proposed tax increase, which you can read in his full report below: