The council will meet at 7 p.m. at the Holly Springs Municipal Building for a work session with a called meeting to follow.
The draft $5.5 million budget for the upcoming fiscal year, which begins Jan. 1, was based on a millage rate increase to 5.148 mills, up from the current rate of 4.865 mills.
The increase is considered a "revenue neutral rollback," as the majority of property owners saw their assessed valued decrease by the same percentage.
Mayor Tim Downing said he doesn't expect the rate to be raised beyond the rollback.
The owner of a $200,000 house with the standard $5,000 exemption paid $364 last year in city property taxes. If their assessed value stayed the same, their bill will increase to $386. If the value declined by 8 percent, the average in Cherokee County, their bill will decrease to $351.
The council on Thursday will also consider whether to make improvements to the Sixes Road bridge over Interstate 575.
The proposed project would add the words "Holly Springs" to the sides of the bridge, with a stamped brick sidewalk for pedestrians and wiring for light fixtures running along one side of the bridge roadway.
Also on the agenda, the council will consider approving a request to abandon right-of-way on Highway 5 to Stars & Strikes.
A proposed Partner in Education Agreement with Holly Springs Elementary School will be reviewed, and the council will talk about establishing seized asset and forfeiture bank accounts.