Hillsborough Begins Fiscal Year 2024 on July 1

The budget increases utility rates and makes no change to stormwater fees or property tax rate

Friday, June 30, 2023
Slide stating new budget and new water rates for new fiscal year

The Town of Hillsborough begins Fiscal Year 2024 on July 1. The new year marks the first day of fee changes and allocations approved in the adopted budget for operations and capital projects.

A public hearing was held May 22, and the budget was adopted June 12. Increases to water and sewer rates also will go into effect July 1. Customers who use no more than 2,125 gallons of water per month will see a smaller increase due to a reduction in the minimum volume charged.

"The budget that we adopted for the coming year makes investments in projects that had been deferred during the worst of the pandemic in addition to projects and personnel needed to make progress toward achieving the community as envisioned in our recently adopted Comprehensive Sustainability Plan,” said Hillsborough Mayor Jenn Weaver.

Operating expenses

The budget includes expenses totaling:

  • $16.7 million in the General Fund.
  • $14.4 million in the Water and Sewer Fund.
  • $999,000 in the Stormwater Utility Fund.

The latter two funds are enterprise funds. No profits are made, and the revenue from these funds is used only to pay the costs of those individual operations.

Rates and fees

The budget:

  • Maintains the property tax rate of 58.7 cents per $100 of assessed value.
  • Reduces the monthly minimum usage that water and sewer customers are charged by 125 gallons from 2,250 gallons to 2,125.
  • Increases water and sewer rates by 6%.
  • Makes no change to the stormwater fee.

The utility rate increases are primarily due to inflation. See the rate increases and price comparisons documents below and a video on the increases.

For all rates and fees, see the Fees, Rates and Charges Schedule below.

More information

The adopted budget allocates funds to replace and rehabilitate capital assets that support existing town operations. It also contains built-in increases in operations to address inflation.

The budget funds several new capital projects to facilitate and better prepare the town for anticipated future growth, including the Ridgewalk Greenway project, a train station, and various water and sewer projects, such as pump station relocations and upgrades, replacement of the Hassel Water Tank, and various water main replacements.

Other budget highlights include a continued effort to better meet the need for affordable housing, funds for market rate salary adjustments for town employees, and a continued commitment to funding sustainability efforts. See the Budget at a Glance document below for highlights.

The fiscal year runs July 1 through June 30. In addition to the related documents below, visit the Budget page and FAQ: Water and Sewer Rates, which includes information on the minimum use charge, the different rates for in-town and out-of-town customers, and comparisons of rates.

Related documents

Document Budget at a Glance  

Document Water and Sewer Rate Increases  

Document Price Comparison for Rate Increases  

Document Budget ordinance  

Document Fees, Rates and Charges Schedule  

Document Budget Message (not yet updated to reflect adopted budget)  

Document Manager's Recommended Budget Workbook and Financial Plan (not yet updated to reflect adopted budget)