A public hearing is scheduled Tuesday, Sept. 3, on the Murphy City Council’s proposal to reduce the property tax rate by 11% from last year’s rate, or about a nickel per $100 valuation.
Council will also hear comments on the Fiscal Year 2025 city budget, with expenditures expected to exceed total revenues by nearly $628,000.
However, Finance Director Berna Fitzpatrick-Walker told the Tuesday, Aug. 20, meeting that the city’s unreserved general fund is projected to have the required 20% reserve through FY29.
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