Winston-Salem leaders approve $393M budget

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WINSTON-SALEM, N.C. -- City leaders have approved a $393 million spending plan for the next fiscal year.

On Monday, in a six-to-two vote, city council members voted for the city's new budget which will increase property tax by 3.9 percent, or 4 cents for every $100. Public bus fares will also be increased 30 cents.

As a result, city employees will receive a 1.5 percent pay raise which will be used to offset higher costs for health insurance premiums.

The property tax increase comes after Winston-Salem was named the most affordable place to live and do business in the U.S. by Mercer’s annual Cost of Living Rankings.