![]() For the past two years, merit-based salary increases have been suspended for all employees due to the continued financial uncertainty related to the global COVID-19 pandemic. Police and Fire sworn employees received market-rate salary increases, on average, of 15% and 14.7%, respectively, in January 2022. City Employee Compensation: The additional funds generated by the tax rate increase will be used to help provide general employees with a 3% market-rate salary increase as well as restoration of the City’s pay-for-performance merit system for all employees, both general and sworn.The tax rate will generate a City property tax bill of about $1,311 per year, or about $109 per month, on a house valued at the median house value of $235,133 according to the Durham County Office of Tax Administration. ![]() Proposed Tax Rate Increase: Effective July 1, 2022, the City’s new property tax rate will be 55.77 cents per $100 of assessed value, which is a 0.6 cent tax rate increase from the previous fiscal year’s rate of 55.17 cents.The total approved budget is $570.4 million, which is a 7.7% increase from last year’s adopted budget, primarily due to increases in the General Fund, Water and Sewer and Stormwater Funds for infrastructure improvements, and the Debt Service Fund to provide for capital infrastructure. ![]() City Council Approves 0.6 Cent Property Tax Rate Increaseĭuring the June 21 City Council meeting, the City of Durham FY2022-2023 budget was approved and contains a little more than a half-cent property tax rate increase to help support the restoration of merit-based employee compensation as well as public safety and shared prosperity initiatives. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |