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Tryon stands to gain much bigger financial impact from proposed new annexation

According to an annexation report released&bsp;at a town meeting Wednesday night, the proposed new annexation area would have a net financial impact of $166,663.33 annually. The previous annexation, which the town rescinded, was expected to generate only&bsp;$32,909 annually.Property taxes account for much of the difference. The new annexation area is expected to generate $245,267 annually for the town in property taxes,&bsp;compared to $163,690 for the previous area. The&bsp;report for the new annexation area, which is focused more on the Gillette Woods area, shows total revenue annually of $414,162 from the annexation area. Services extended to the area would result in&bsp;estimated annual expenditures of $247,498. Look for more information on the annexation report in the Bulletin on Friday.