The average homeowner in Clayton would pay about $48 more next year in property taxes under a proposed budget from Clayton Town Manager Adam Lindsay.
The 2018-2019 fiscal year budget presented to the Clayton Town Council this month is $60,060,047, which includes $25,689,002 for the General Fund, $20,486,792 for the Water and Sewer Fund and $13,884,253 for the Electric Fund. The new budget is up about $8.8 million from the current fiscal year spending plan of $51.2 million.
Department heads had requested 31 new positions this year but only 12 were included in Lindsay’s proposal.
The budget calls for 3 cents property tax increase – from 55 to 58 cents – for every $100 of property value. For the median home value in Clayton, that means about a $48 increase in the annual tax bill. A one penny increase in the tax rate will generate approximately $184,000 in Clayton, with the proposed increase generating about $550,000 in new revenue to dedicate to needed immediate projects like fixing streets, increasing downtown parking, and improving parks. That revenue will become debt service payments toward some significant capital projects within three years.
“This is a path for our staff and town leaders to lay a foundation for how Clayton is going to embrace moving from a small town to the medium-sized town that we are already becoming,” said Town Manager Adam Lindsay. “When I look back at my predecessor 20 years ago, this town was in dire financial straits, it was struggling to get out of a hole because the Town literally had no money. They righted the ship. With the Council’s guidance and leadership along the years, Clayton is now in good shape financially and ready to build the foundation for the next 20 years.”
Council members agreed they don’t like the increases, but they feel they are necessary.
Public comments on the proposed budget can be made during a public hearing Monday, May 21st at 6:00pm. Following the public hearing, the Council will likely vote on adoption of the budget.
