Town of Hillsborough issued the following announcement on July 6.
The Town of Hillsborough begins Fiscal Year 2023 today. The new year marks the first day of all operational and capital project allocations approved in the adopted budget, along with all associated fee changes.
A public hearing was held May 23, and the budget was adopted on June 13. It includes:
- $13.9 million in expenses in the General Fund.
- $11.5 million in expenses in the Water and Sewer Fund.
- $768,263 in expenses in the Stormwater Utility Fund.
The latter two funds are enterprise funds. No profits are made, and the revenue from these funds is used for no other purpose than paying the costs of those individual operations.
Increases of 4.5% for water rates and 2% for sewer rates are also effective as of today. The minimum volume charge drops from 2,375 gallons per month to 2,250 gallons per month, providing a net savings for low-volume users. More information on this year’s utility rates are provided in the Fees, Rates and Charges Schedule and the Utility Fee Calculations.
The property tax rate of 58.7 cents per $100 property value remains the same in this fiscal year.
The fiscal year runs from July 1, 2022 to June 30, 2023.
Source: https://www.hillsboroughnc.gov/news/news/
