Kannapolis budget hearing tonight
Published 12:00 am Sunday, June 12, 2011
By Hugh Fisher
KANNAPOLIS ó Residents of Kannapolis will have a chance to weigh in on the proposed 2011-12 budget this evening.
The Kannapolis City Councilís first meeting of June will be held at 6 p.m. at the Kannapolis Train Station, 201 S. Main St.
The budget, prepared by City Manager Mike Legg, Assistant City Manager Eddie Smith and staff members, leave the property tax rate unchanged at 49 cents per $100 of value.
The $45 million budget proposal trims $354,220 in spending from the current budget.
At the last council meeting in May, Legg told members that this yearís budget is meant to provide a firm foundation for whatever may happen in 2012 and beyond.
Although Rowan Countyís property revaluation has not had a major impact on revenues, next yearís revaluation in Cabarrus County may affect the city which straddles the county line.
According to city staffís best estimates, property values could go down by as much as $400 million when market values are reassessed.
That would mean a tax rate hike would be needed to maintain a ěrevenue neutralî tax rate ó the same amount of money coming in as before.
In addition, financial uncertainty at the state and federal levels leaves municipalities wondering whether they may have to foot the bill for services that used to be paid for by Raleigh or Washington, D.C.
Residents can view the proposed budget in its entirety online at www.cityofkannapolis.com/FS/CO/2191/FY12%20Budget.pdf
Contact Hugh Fisher via the editorís desk at 704-797-4244.