Sharpsville council on Wednesday unanimously approved its $2,843,412 budget for 2003, which carries a 3.67-mill tax increase.

The tax hike includes 3 mills for general fund purposes, 1 mill to pay for a new fire truck and a 0.33-mill reduction for the municipal building mortgage, because it was paid off this year.

The initial budget called for a 10-mill tax increase, but the equivalent of 6 mills was transferred from the capital improvement fund. Council President Jack Cardwell called the budget a "compromise," because some council members did not want to take money out of capital improvement, while others wanted to take out more to avoid any tax increase.

The tax hike takes the levy from 14.03 mills to 17.7 mills.

A mill is $1 for every $1,000 of assessed property value. Assessments are a property's 1970 market value. At 17.7 mills, a house assessed at $16,000 would carry a tax bill of $283, which is $59 more than this year. A mill brings the borough about $28,000.

Councilman Guy Moderelli suggested forming a committee to study home rule, which might give council options other than raising property taxes to fund borough operations. Anyone interested in being on the committee can call Moderelli at (724) 962-2560.