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Lake Lure council adopts $8.8 million FY2026–27 budget, shifts two cents to fire district
Summary
The Town of Lake Lure approved an $8,829,487 general fund budget for FY2026–27, a small tax-rate increase shifted two cents to the fire district to cover operating costs and firefighter pay, and included a 2.8% cost-of-living adjustment for staff.
The Town of Lake Lure adopted its FY2026–27 budget in a unanimous vote, approving a general fund budget of $8,829,487 and a water/sewer fund of $1,237,770. Council approved a tax-rate increase of $0.02, bringing the rate to 37.7 cents per $100 of assessed value, with two cents reallocated to the fire district to cover operating needs and firefighter pay.
Town Manager Olivia Stewman summarized the package and the rationale for the changes, saying, "The budget supports replacing aging fire engine, addressing firefighter pay deficits, and staffing needs." The package also includes a 2.8% cost-of-living adjustment that the council adopted as part of the pay-scale update approved the same night.
Council offered no public comments during the budget hearing and voted to adopt Ordinance No. 26-06-09. Commissioners present moved and seconded the motion and the record notes that "all were in favor." The adopted budget also anticipates further recovery funding from federal and state sources connected to Hurricane Helene response efforts.
