WALLBURG — Property taxes will remain constant in Wallburg this year if the proposed budget is adopted after a public hearing scheduled for next month.
The town’s tax rate of 5 cents per $100 valuation has remained unchanged since its incorporation in 2004. Andy Brinkley, who serves on the town’s finance committee, said 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.
“We continue to encourage the citizens of the town of Wallburg to shop and buy locally in Davidson County to keep sales tax dollars in the town of Wallburg,” Brinkley said. “The town of Wallburg remains in good financial condition.”
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 town distributed supplies to local businesses, schools and churches to assist in local recovery efforts in our community,” Brinkley said. “The finance committee recommended the budget with a very conservative approach.”
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.
A public hearing for the proposed budget is scheduled for June 8.
Staff writer Daniel Kennedy can be reached at 336-888-3578, or at firstname.lastname@example.org.