WALLBURG — Property taxes will remain constant in Wallburg after the 2021-22 fiscal year budget was adopted without input during a public hearing held this week.
The town’s tax rate of 5 cents per $100 valuation has remained unchanged since its incorporation in 2004. No one was in attendance at the regular June meeting to speak to council members about the proposed budget.
“This has been provided with our town clerk for public viewing throughout this period, as it’s defined in the [state] statutes,” Councilman Mark Swaim said. “This budget draft we’d like to present to council from the finance committee for consideration.”
Andy Brinkley, who serves on the town’s finance committee, said last month that property tax accounts for 12.5% of the town’s income, generating an estimated $140,000. Sales tax revenue continues to be the primary source of income to the town, an estimated 80.9% of the town’s income. A total of $904,000 is budgeted for sales tax in the 2021-22 budget. Those funds will provide funding for all capital projects, as well as operating expenditures for services such as garbage collection.
Garbage service provided to residents is the largest expenditure. Wallburg budgeted $50,000 toward community grants during the 2020-21 fiscal year, and the town also provided an educational subsidy to Wallburg Elementary School. Restoration of the historic George W. Wall Home remained ongoing last year, and the town will continue with the project, expecting completion in October.
Wallburg also received $88,255 in COVID-19 relief grant funding.
The recommended budget projects total revenues just shy of $1.2 million. Expenditures are proposed at just under $1.1 million, so officials expect a balanced budget for the upcoming year.
Staff writer Daniel Kennedy can be reached at 336-888-3578, or at email@example.com.