It’s official: Greenwood’s tax rate will rise by 4% for the 2019-2020 fiscal year.
During its Tuesday meeting, the City Council approved raising taxes by 2 mills from 50.26 mills to 52.26 mills. In addition, the council approved the city’s budget for the fiscal year, which begins Oct. 1.
A mill in Greenwood is worth $109,000. A 2-mill increase would generate about $218,000 in revenue.
The city’s general-fund budget for the upcoming fiscal year will be $12,083,093, a bit lower than the current fiscal year’s budget of $12,162,211.
Mayor Carolyn McAdams said several times prior to Tuesday’s meeting that it would be necessary to raise taxes to continue providing city services.
McAdams said after the meeting that city residents will pay 44 mills in taxes for the Greenwood Leflore Consolidated School District, which is 12 mills, or 21%, lower than what city residents used to pay for the former Greenwood School District.
The council also approved two resolutions in preparation for issuing bonds for infrastructure upgrades.
The first resolution allows the city to employ professionals connected with the selling and issuing of general obligation bonds. The second resolution is a declaration of the city’s intention to issue bonds.
Tray Hairston, of Butler Snow, a Ridgeland-based law firm, told the council that the city would have to advertise its intention to issue bonds for a month before a vote takes place in October.
The bond issue could not exceed $7 million, Hairston said, explaining after the meeting that the city does not have to borrow the full amount.
Greenwood’s numerous pothole-ridden streets have been a source of frustration for council members.
The mayor has said that the city would need to borrow money in order to address the city’s poor streets.
In other business:
• The council accepted a $58,8000 demolition bid from Mac McNeer Construction Co. Inc. McNeer will clear or cut the grass on 22 dilapidated properties scattered throughout the city.
• Reappointed John Beard and Louise Delaney to the Greenwood Historic Preservation Commission.
Ward 1’s Johnny Jennings was absent from the meeting.
• Contact Gerard Edic at 581-7239 or gedic@gwcommonwealth.com.
