Alpharetta OKs first reading of 2012 budget

Alpharetta officials gave initial approval Monday to its proposed 2012 budget. The spending plan keeps the tax rate the same while giving property owners an additional $10,000 homestead exemption. With the drop in home values in general, most homeowners will see a property tax reduction, Finance Director Tom Harris said.

To make up for almost $3 million less in property tax revenue, the city will cut one full-time administrative position and keep another 13 positions unfilled.  It also anticipates increases in sales tax revenue and delinquent tax collections. A final vote on the budget will be later this month.