The City of Laurel is one step closer to getting funding for street improvements. Mayor Johnny Magee said many streets need repairs.
“It’s been quite a while since any major paving has been done in the city of Laurel,” Mayor Magee said.
The mayor said the city council has approved to apply for the bonds which amount up to $10 million for the street improvements. That means driving in the area will be a lot smoother, but taxes will go up.
“Right now our budget for 2016 is balanced. We don’t have 10 million dollars in reserves, so the only way we can raise the money to do the repairs is through an ad valorem tax increase,” Mayor Magee explained.
Some concerned citizens reached out to WDAM about the tax increase and what it means. Mayor Magee said the bonds will increase taxes by 2.85 mill, which means a person with a home valued at $100,000 will see a tax increase of $50 per year.
“The citizens have not protested the issuance of the bonds. We’re in the process of selling the bonds so we should have that back in probably another 4 to 6 weeks.”
Mayor Magee said if all goes according to plan, work should begin in the Spring.