Under the financial plan unanimously approved tonight by town commissioners, Weldon’s tax rate will go from 70 cents to 68 cents per $100 of valuation.
Interim Town Administrator Phyllis Lee, whose last night was tonight, worked with the town through its budget process and said following a public hearing in which no one spoke several factors helped the board come up with a budget allowing a tax decrease.
She said the town saved $9,000 by bidding for an auditing firm and saved $81,000 by bidding for health insurance. “When a new manager comes they will take a look at other contracts, anything that can save the taxpayers money.”
The $3,874,517 budget was also prepared without going into the town’s fund balance, Lee said.
Following approval of the budget, Mayor Julia Meacham said a recent property revaluation also factored into dropping the tax rate. “If you factor in the recent property revaluation, Weldon property owners are actually paying between 90 cents to $1 per $100 property tax rate. While we are certainly not in a unique position in Halifax and Northampton counties with this problem, the board feels that small towns like Weldon must have a more competitive tax rate if we are going to attract families and businesses to our area.”
The mayor said town employees and others discovered a $9,000 a year overpayment on its general liability policy for a building that was quoted by cubic footage rather than square footage.
The town negotiated an $18,000 rebate from this fiscal year and the one upcoming. “We are in the process of negotiating with the same insurance carrier for refunds dating back to at least 2005.”
Meacham said the board will continue to enforce all ordinances and seek ways to reduce property taxes.
Phil Hux, of First Carolina Agency, which won the bid for health insurance, told the board while the deductible was raised $100 the out of pocket costs were lowered, as was the cost for spouse, family and children.
Meacham acknowledged what she described as the tremendous savings of the insurance plan. “We’re trying to set an example to help the town grow together. The figures show we are making progress.”
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