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Trent Woods adopts FY2025–26 Budget and estimates tax rate of $0.17 per $100 of valuation
Summary
On June 24, 2025 the Board adopted the FY 2025–26 Budget and Tax Levy Ordinance, setting an estimated ad valorem tax rate of 17 cents per $100 of valuation based on a $944.5 million valuation and a 97% collection rate; total budgeted funds equal $3,708,641.
The Town of Trent Woods Board of Commissioners adopted the FY 2025–26 Budget and Tax Levy Ordinance at a special meeting on June 24, 2025. Commissioner Dan Murphy moved to approve the ordinance as presented; Commissioner Shane Turney seconded and the motion carried.
The ordinance lists estimated revenues and departmental appropriations that together total $3,708,641. The revenue schedule specifically lists Ad Valorem Taxes $1,403,232; Motor Vehicle Taxes $154,126; Sales Tax Distributions $880,546; Powell Bill Allocation $125,000; and Investment Earnings $87,500. The ordinance states the tax rate is estimated at $0.17 (17 cents) per $100 of full valuation, based on an anticipated property valuation of $944,500,000 and an estimated collection rate of 97%, and is to be effective July 1, 2025.
Departmental appropriation highlights in the adopted ordinance include Police $708,468; Pedestrian Plan $789,543; Parks & Recreation $190,514; Drainage $613,601; and Transfers & Special Appropriations $649,550. The ordinance directs that the Budget Officer administer the budget and that the Finance Officer maintain records in agreement with the budget and applicable North Carolina statutes.
