Development News for North Myrtle Beach, South Carolina

North Myrtle Beach Council Reviews $190.2 Million Fiscal Year 2027 Budget with Millage Increase

The City Council reviewed and discussed the proposed fiscal year 2027 budget, totaling $190.2 million, a 5.4% increase over the previous year. The budget consolidates city finances into five major funds, including the general fund, capital fund, state accommodations tax fund, debt service fund, and water and sewer utility fund. Key priorities include community resilience, operational excellence, fiscal sustainability through an operational millage increase from 45 to 50 mills, and strategic asset management. The budget also addresses compensation increases, facility expansions, and utility rate adjustments. Public hearings and council discussions highlighted concerns about tax increases, utility fees, and the allocation of funds, alongside assurances of fiscal responsibility and strategic planning.