Mount Olive residents will see a three-penny increase in property tax rates beginning July 1.
The town’s board of commissioners approved the new rate of 67 cents for every $100 worth of property by a 4-1 vote during a recent work session. Outgoing District 4 Commissioner Dennis Draper made the motion and District 3 Commissioner Barbara Kornegay seconded his recommendation. Draper said if the increase did not occur, it will be worse next year.
The tax increase will generate an estimated $25,000 for each penny.
The previous rate was 64 cents.
District 1 Commissioner Vicky Darden opposed the tax hike. She said she does not feel it is right to give town employees a salary increase and then raise the tax rate. Employees received a 2.5% or better salary increase in the new budget adopted by the board after further evaluation.
A public hearing on May 31 had no noticeable opposition to the proposed budget.
The board originally said it had no intentions of raising property taxes.