KENNETH CITY — Next year's proposed budget includes an unchanged property tax rate and a spending level roughly the same as this year's budgeted amount.
The proposed rate is $4.76 for every $1,000 of assessed, taxable value for the fifth year in a row. That means a resident with a home valued at $150,000 with a $50,000 homestead exemption would pay $476 in town property taxes. Taxes collected under that rate and a roughly 7 percent increase in property values are expected to bring in about $609,000, $12,000 more than this year.
The proposal also includes salary adjustments for several employees as part of the second year of a plan based on a study that found compensation amounts for some positions were "well below market."
The capital improvement portion of the budget includes money for several projects, including renovations to town buildings, improvements to James P. Ernst Park and storm drain maintenance based on inspections conducted this year.
Town Council members will discuss the budget at the Sept. 7 public meeting with the final vote at the Sept. 21 meeting, both at 6 p.m. at Community Hall. The budget goes into effect Oct. 1.