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Thu June 14, 2007
Oak Island Cuts Taxes, Increases Service Rates
By Peter Biello
Wilmington, NC – The Oak Island Town Council voted yesterday to cut taxes and increase service rates. Mayor Johnnie Vereen says the new budget cuts the tax rate from 33 cents to revenue neutral 12.45 cents per $100 valuation. He says beginning August 1st Oak Island's base water, sewer and garbage rates will increase. On a related note, Vereen says representatives from Smithville Township have voted to lower the Dosher Hospital tax from 4 to 2 cents.
We'll basically give them the same amount of money they would have expected this year if there hadn't been a reevaluation, so they won't be losing any money. Anything extra would have been a windfall over and above that.
Vereen says Brunswick County Commissioners will vote on the proposed tax cut by mid-August. If the tax cut is approved, Vereen says Dosher hospital will lose out on nearly $2 million.