The City of Laurel unveiled its budget for the next fiscal year during a public hearing at Laurel City Hall this week.

Several city officials attended the public hearing for Laurel’s Fiscal Year 2021 Budget and tax millage rates. The required public hearing for the upcoming budget was held on Monday, August 31, in the Council Room at Laurel City Hall.

It was at this meeting that City Clerk Mary Ann Hess gave an overview of the upcoming budget, which has no ad valorem tax increase being proposed. Also, she told the audience that the city’s millage rate is

expected to remain at 43.35 mills.

Mayor Johnny Magee said that no employees’ raises were recommended and are not a part of the proposed budget from the city administration. He said the city will look at possible raises during the middle of the budget year.

“The main thing is we have no tax increases,” the mayor said. “Our goal was to present a balanced budget.”

Five of the city’s seven council members attended the meeting and several commended the city administration for its work on the proposed budget. Ward Four Councilman George Carmichael and Ward Seven Councilman Anthony Page were absent from the meeting.

Officials also announced that the value of a mill has increased over the past year, so there should be an increase in revenue for the city. A mill levy is a property tax that is based on the assessed value of a property.

The rate of this tax is expressed in mills. One mill is equal to $1 for every $1,000 of assessed value. The mill levy rate is determined every year by dividing the total assessed value of all of the taxable property in a city or town by the overall amount of tax that is necessary to cover city, county, and state budget requirements.

“A mill has increased by 5.2 percent in the past year,” Hess explained. “That’s a good thing for the budget.”

Hess said the previous year, a mill increased by 3.2 percent and over the past seven years and it has shown slight increases.

“That’s good overall,” she said.

Hess also told those gathered that no capital expenditures were put in the upcoming year’s budget. However, she said a lot of work on the city’s streets has been budgeted.

Hess said the street improvement fund is increasing from the $3.8 million expected to be spent this budget year to the $10.8 million being budgeted for next year. Also, the city’s public utility improvement fund, which involves the water and sewer, will increase from the $3 million expected to be spent this budget year to the $5.8 million budgeted for next year.

Hess said a large amount of those funds are from bonds the city has sold to repair the city streets and to handle its public utilities.

“I am pleased that no tax increase is being anticipated,” the mayor said. “We continue to strive to work efficiently when spending the citizen’s money.”

The city’s budget will have to be adopted by the Laurel City Council this month. It is expected to be on the council’s Sept. 8th agenda.

The city’s new fiscal year will begin October 1.