Proposed city budget includes significant tax increases
Martinsville City Council reviewed City Manager Robert Fincher’s proposed FY 2026–27 budget on April 28, featuring major cuts and a real estate tax increase.
The plan follows a $5 million budget gap caused by overestimated revenues and underestimated expenses. Cost-saving measures include a hiring freeze, reduced school and agency funding, and cuts to travel and supplies. Despite nearly $3 million in reductions, a $2 million shortfall remains.
Fincher recommends raising the tax rate by $0.09 to $0.84 per $100 of value, which would still be below the regional average. Council will hold work sessions through May 6.
A Boeing C-135 Stratotanker / Stratolifter military aircraft known as KC-135 of the United States Air Force USAF configured as Air Tanker Transport for aerial refueling. (Photo by Nicolas Economou/NurPhoto via Getty Images)
(NEW YORK) — Six service members were killed when their refueling aircraft “went down” in friendly airspace in western Iraq, according to U.S. Central Command.
“All six crew members aboard a U.S. KC-135 refueling aircraft that went down in western Iraq are now confirmed deceased. The aircraft was lost while flying over friendly airspace March 12 during Operation Epic Fury,” CENTCOM said Friday.
The KC-135 aircraft went down at approximately 2 p.m. ET on Thursday when two aircraft were involved in “an incident,” CENTCOM said in a brief statement, confirming that “one of the aircraft went down in western Iraq, and the second landed safely.”
Gen. Dan Caine addressed the crashed refueling plane, saying the incident is being treated as an active rescue and recovery mission.
“The incident occurred over friendly territory in western Iraq while the crew was on a combat mission, and again, was not the result, as CENTCOM has said, was not the result of hostile or friendly fire,” Caine said Friday. “We’re still treating this as an active rescue and recovery operation, as CENTCOM announced this morning, four airmen have been recovered, and the Air Force and US Central Command will provide updates as information becomes available.”
The other aircraft involved was also a KC-135 tanker, according to a U.S. official.
The circumstances of the incident are currently under investigation and the identities of the service members who died in the incident are being withheld until 24 hours after next of kin have been notified, officials said.
KC-135 aircraft are not equipped with parachutes and do not have ejection seats, which are primarily in fighter aircraft, officials have told ABC News.
Passengers and crew members of KC-135s instead are trained on how to exit the aircraft when it is on land or on water, officials said.
According to a 2008 Air Force profile of the tanker crews, the move to get rid of parachutes was made because the tankers “seldom have mishaps, and the likelihood a KC-135 crew member would ever need to use a parachute is extremely low.”
This is a developing story. Please check back for updates.
U.S. President Donald Trump speaks with members of the media onboard Air Force One on March 29, 2026. (Nathan Howard/Getty Images)
(NEW YORK) — The Dow Jones Industrial Average soared more than 950 points on Tuesday after President Donald Trump appeared to suggest the U.S. may end the Iran war without reopening the Strait of Hormuz.
In a post on social media, Trump indicated that the task of reopening the strait may fall to other countries, urging them to “go to the Strait, and just TAKE IT.”
The Dow jumped 970 points, or 2.1%, by early afternoon, while the S&P 500 climbed 2.4%. The tech-heavy Nasdaq increased 3.4%.
Since the U.S.-Israeli war with Iran began on Feb. 28, Trump has voiced mixed messages about the expected duration of the war. On several occasions, markets have climbed after traders interpreted comments from Trump as a potential off-ramp from the Middle East conflict.
The war prompted Iranian closure of the strait, a maritime trading route that facilitates the transport of about one-fifth of the global oil supply. A potential U.S. exit from the war without ensuring that the strait is open could leave uncertain the path to a resumption of normal tanker traffic and a resulting remedy for the current global oil shortage.
Global oil prices surged more than 5% on Tuesday, exceeding $118 a barrel, just shy of its highest price since 2022.
Gas prices in the United States topped $4 per gallon on average Tuesday, underscoring the link between rising oil prices and strained consumers.
This is a developing story. Please check back for updates.
