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Southern Pines holds first public hearing on FY2026 budget; tax rate unchanged
Summary
At a May 13 public hearing, town staff presented the draft FY2026 budget that keeps the property tax rate at 29¢, maintains a 25% reserve, proposes targeted capital transfers and modest utility rate increases, and leaves the $10 recycling opt-in fee unchanged.
Southern Pines held the first of two public hearings on the town’s draft fiscal year 2026 budget on May 13, during which Manager Parsons and staff outlined revenue assumptions, planned capital projects and modest fee increases ahead of the council’s planned adoption on June 11.
Parsons told the council and members of the public the town would keep its property tax rate at 29¢, which the presentation projects will generate about $13.4 million in property-tax revenue for the coming fiscal year. The draft maintains a 25% reserve fund balance (about $7.6 million) and estimates an available fund balance of roughly $648,000 for other uses.
The presen…
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