Laurel Adopts 2013 Budget
There were few surprises in the budget for the upcoming fiscal year.
The Laurel City Council voted this week to approve its 2013 fiscal year budget. There were few surprises in the $25.7 million budget, which marks a more than $470,000 increase from the fiscal year 2012 budget. Last year, the city maneuvered around a $3 million budget deficit by freezing pay raises for city employees. But this year, the city plans to partially reinstate raises, including merit-based raises, but will continue to hold off on cost-of-living increases. The city also plans to add funds to the retirement pension fund. This year the city plans to pay $1.6 million, up from the $1.5 million in the 2012 budget. Real property tax rates will remain steady at 71 cents per $100 of the assessed property valuation. Personal property tax …
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