APRIL 1, 2018
by Pat Dowling , NMB Public Information
Key 2019 Funding Needs:
- Fund capital improvement projects (public parking opporunities, roads, beach renourishment, storm water drainage, Ocean Outfalls, etc.).
- Fund a state retirement system-mandated $260,000 funding increase in the City's contribution for Police and Fire retirement for FY 2019. (To be followed by required increases of $80,000 annually for the next fix fiscal years.)
- Meet increases in health insurance.
- Resolve imbalance between revenues and expenditures in the Sewer fund. Pass on County Solid Waste fee, prep for rollout containers replacement.
- Update the Business License Fee rate structure while remaining very competitive.
Proposed Funding for Above FY 2019 Budget Needs
- 2 Mill Property Tax Increase / 1 Mill = $375,000 – on $350,000 home 2 Mills amounts to $28 annually. (See "Millage Rate Comparison" below.)
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- Sewer Fee Adjustment – for about 12,660 of the city's sewer customers the base rate on a 3/4-inch meter would increase from a current $6.32 to $8.00, plus a 7-cents per gallon increase for 10,000 gallons. The total increase would be about $2.38 for the first 10,000 gallons. Larger meter sizes could realize larger increases.
- Sanitation Fee Adjustment for Single-Family Residential Customers – increase by $3.00, from $19.00 per month to $22.00 per month. $2.00 of the increase is a pass-through increase from the Horry County Solid Waste Authority, and $1.00 would go toward replacement of aging rollout garbage containers. Containers are over 10 years old and replacement will occur over time.
- Business License Increase ($700,000 total) – 25% of the rate differential between North Myrtle Beach rates and Myrtle Beach rates. Example: In the Buidling, Auto Parts and Clothing category, the current Myrtle Beach base rate is $105 and the current North Myrtle Beach base rate is $35. Applying 25% of the rate differential would bring North Myrtle Beach's base rate in the this category from $35 to $52.50.
