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Tuesday, June 3, 2014

No Tax increase in Hickory this year

The Mayor and the Council voted unanimously to not raise taxes this year. The consensus is that they didn't want to go into the Bond Referendum with a tax increase and then have to ask for another tax increase. Road paving will move forward with the monies coming from the unfunded balance (the rainy day fund). They will take their chances on the operational costs shortfalls (revenue uncertainty) and any shortfall will also come from the unfunded balance built into the General Fund.

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