DURHAM: Durham city leaders approve $389.9 M budget - WNCN: News, Weather

Durham city leaders approve $389.9 M budget

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Durham City Council approved a $389.9 million budget for 2014-15 fiscal year on Monday night.

The budget is a 3.4 percent increase from last year’s budget. The new budget includes a 2.37 cent property tax increase, making a new tax rate of $59.12 per $100 of assessed value, which is about $1,064.16 on a house valued at $180,000.

A 1.29 cent portion of the property tax increase is needed for voter-approved debt service costs from previous bonds and to cover 16 police officers and 15 firefighters’ salaries that had been paid by recently expired federal grants.

Other fees include a $1 per month yard waste service fee increase, a $2 increase per ton fee increase for commercial municipal solid waste disposal and a 3 percent water and sewer rate increase as well as a 7.5 percent stormwater rate increase.

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