City of Edison initiates financial recovery plan, reveals increase in debt
ALBANY, Ga. (WALB) - The city of Edison’s financial struggles continue, but a new recovery plan aims to get them back on track.
Tommy Coleman, Edison’s city attorney, said the city is now more than $500,000 in debt. On Monday night he said, “We need an action plan.”
Here is a look at how they’re working to curb this problem:
• Solid waste fees will now generate $25,000 a month. Bumping bills from $27 to $38.50
• The city’s property tax rate is now being raised from 18% to 29%
• Residents could see a rise in water, sewage and gas bills
As city officials work to dig their way out of this hole, the bills keep stacking. Coleman says the quarterly bill to the IRS was not paid in April, adding they “probably owe something like that again by now.”
“I want to point out how desperately important it is that we keep up with the IRS,” said Coleman. “The other clients I’ve had that have gotten into this fix, we didn’t pay and didn’t pay and the IRS started sending individual commissioners letters asking how much their house was and how much money they had, that kind of thing.”
As for what comes next, three public hearings will take place next week in regard to the millage rate increase.
Those are Monday, Sept. 18 at 6 p.m., and Wednesday, Sept. 20th at 12 p.m. and 6 p.m.
Copyright 2023 WALB. All rights reserved.