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Greencastle's proposed budget holds line on taxes

November 06, 2007|By ASHLEY HARTMAN

GREENCASTLE, Pa. - A preliminary budget was approved Tuesday night by the Greencastle Borough Council which includes no tax increase for borough property owners, according to Borough Manager Ken Myers.

The general fund came to $2,205,300, with a surplus. The top three areas of revenue came from real estate taxes (37 percent), earned income taxes (34 percent) and real estate transfer taxes (9 percent).

The top three expenditures in the 2008 budget are expected to be for police (40 percent), street department (28 percent) and administration (11 percent).

The total proposed budget is about $5.8 million.

The real estate tax rate will remain 11 mills. Each mill generates $37,794 in revenue, according to the borough's proposed budget.

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The utility sewer budget, capital reserve fund budget and highway aid fund budget all included deficits.

Myers said this was because the borough is "spending down surpluses that have been saved over the years."

A budget hearing has been scheduled for Dec. 3 at 6:45 p.m.

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