April 25th, 2022 by WCBC Radio
Although enjoying a healthier fiscal picture than at any time in recent decades- Cumberland city officials say there are no plans to reduce tax rates, preferring to move forward with a cautious approach. During a preliminary budget presentation, the consensus was to maintain current property tax rates, even though there is currently a $2.3 million budget surplus. The City Council agreed to keep the real property tax rate at 1.0595%- declining to accept a state formulated constant yield rate of 1.0354% which would have resulted in maintaining the same level tax revenue as last year. Mayor Ray Morriss was quick to point out that without an infusion of $20 million in federal American Rescue Plan Act funding- the city could be operating at a deficit. He says given the 8.5% inflation rate, along with increases in the cost for fuel, equipment, vehicles and in the minimum wage- now is not the time to change the rate…
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