Board of Mayor & Aldermen Adopt FY2016 Budget, Fund Town Priorities for Coming Year
 
Posted on Wednesday July 08, 2015
 
The Board of Mayor and Aldermen gave final approval to the Town's FY2016 operating budget at a special called meeting on July 7. The budget funds major Town priorities including the Atoka Municipal Complex, the Greenway Trail project, major road repaving projects and the first year of a fully-operational stand-alone Fire Department.
 
After months of review, planning and preparation, the Board of Mayor and Aldermen adopted the Town's fiscal year 2016 budget at a special called meeting on July 7.  The budget, first considered on June 9 and the subject of a public hearing on June 30, was unable to pass at the June 30 special meeting due to an Atoka Town Charter provision that requires four (4) affirmative votes for final passage of any ordinance.  The vote on June 30 was 3 to 2 in favor and the final vote on July 7 was 4 to 2.  

While the budget provides for no new staff positions during the fiscal year, it does fund the Atoka Fire Department as a stand-alone fire department for the first time in the Town's history.  Additionally, the Town added two (2) full-time Police Officer positions and a Parks & Recreation Program Coordinator during fiscal year 2015.  

Also approved in the ordinance was the Town property tax rate.  The Town property tax rate has been $0.55 per $100 of assessed valuation since 2008.  As a result of the countywide reassessment process last year, Town property owners on the whole saw a decrease in property tax bills as the Town left the rate unchanged as assessments decreased.  The Board, in the FY2016 budget, set the property tax rate for 2015 at $0.80 per $100 of assessed valuation.  For the average Atoka residential property, the $0.25 increase will result in a property tax bill increase of $100 for the year.  The new property tax rate remains significantly lower than surrounding communities that offer full municipal services (Munford property tax rates increased to $1.23 this year and Covington remains at $1.33).  

The budget also allocates significant funds for road repaving projects - including a planned repair and resurfacing of Rosemark Road from Walker Parkway to Tracy Road.  More than $700,000 in paving projects are planned to get underway in the coming months.  

The fiscal year 2016 budget runs from July 1, 2015 through June 30, 2016.  
 

 
Town of Atoka, Tennessee 334 Atoka-Munford Avenue Atoka, TN 38004
Phone: (901) 837-5300
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