In the 2024-25 fiscal year, residents of Drexel will not experience a property tax rate increase, as the Board of Aldermen approved a budget of $5,586,037, with a 9% increase from the previous year. The budget includes a 35 cents per $100 of assessed valuation tax rate, a 4.5% pay raise for full-time employees, and a bonus equivalent to two weeks' pay split into two payouts. Notable highlights of the budget are increased pay for law enforcement officers during the annual fair, a surplus personal property sale including used sidearms, and support for community events such as "An Evening of Music" organized by Grow With Drexel.