Thomasville, North Carolina Development News

City Council Approves FY2027 Budget with Tax Rate Adjustments and Hiring Freeze

The City Council adopted the fiscal year 2027 budget ordinance, totaling \'$64,383,948\', which includes a general fund property tax rate of 64.5 cents per \'100 of taxable property valuation\', a two-and-a-half-cent increase from the prior year. The school fund tax rate was set at 19 cents per \'100 of taxable property valuation\', a half-cent decrease from the prior year. The budget includes appropriations from economic development reserve funding and unassigned fund balance to balance the budget. A municipal vehicle tax of \'$20 per registered motor vehicle\' remains unchanged. The adopted budget also implies a continued hiring freeze, with exceptions for critical positions, particularly in public safety, at the city manager's discretion.