Beaufort plans to ask for more money in its next budget. Here's what it might cost you
Beaufort taxpayers could be asked to shell out more money in the coming year.
City property owners would pay an additional $30 a year to help cover the cost of anticipated drainage projects under the next city budget presented Tuesday night.
City officials have also proposed a tax increase — adding about $44 to the bill of a $250,000 property.
And, a proposed $30 jump would take the annual stormwater fee to $135. That additional money would cover anticipated $5 million in bonds to pay for projects to help alleviate flooding issues, with an emphasis on neighborhoods in the Mossy Oaks area hit hard by recent storms.
The $22.98 million budget proposal goes to a first vote from City Council on June 12, with a second and final vote on June 26.
The city plans to keep about $185,000 in reserve for future unspecified needs.
"We want to start basically building our savings account," city manager Bill Prokop said.
City Councilman Stephen Murray asked if the reserve could instead go to offset the planned tax hike. Paying even a moderate tax increase paired with the extra stormwater fee would be a burden to lower income residents who could also see a hike from county and school district, he said.
"It means a whole lot to a whole lot of people," Murray said of the anticipated extra cost.
Mayor Billy Keyserling and other council members spoke in favor of at least some reserve fund to help cover unanticipated costs. Keyserling noted ongoing repairs to the underside of Henry C. Chambers Waterfront Park and $500,000 the city still hasn't received in federal emergency reimbursement for costs associated with Hurricane Matthew in 2016 as support for a rainy day fund.
The mayor called the $185,000 a year a modest investment that will ultimately save taxpayers money. The city requires a minimum amount of money kept in its general fund to maintain credit worthiness, finance director Kathy Todd said.
A reserve would help pad that fund for costs like matching grant funds, she said.
"It seems to me to be wise to begin to build that fund," Keyserling said.
Additional money for the drainage projects came after flooding from Hurricane Matthew and Tropical Storm Irma the past two years left some homes flooded multiple times. During a community meeting with state and local officials last fall, the city unveiled a plan for a multimillion project to address drainage issues primarily across an 800-acre area canvassing neighborhoods in the Mossy Oaks area between Ribaut Road and Battery Creek Road.
Watch the city's budget presentation
This story was originally published May 23, 2018 at 12:04 PM with the headline "Beaufort plans to ask for more money in its next budget. Here's what it might cost you."