June 17, 2024

Contact:         Brian Eaves, Public Information Officer

                       919-934-2116, ext. 1103; brian.eaves@smithfield-nc.com

TOWN COUNCIL APPROVES FY 2024-2025 BUDGET AT JUNE 4TH MEETING

The Smithfield Town Council unanimously passed the fiscal year 2024-2025 operating budget at a meeting held on Tuesday, June 4th. The $48.9 million budget, which takes affect July 1st, includes no increase to the current property tax rate of 57 cents ($0.57) per $100 property valuation.

Water rates for the town will remain the same, however electric rates will increase by an average of 6%, along with a 6% sewer increase beginning September 1st. The town’s yard waste fees will also increase by 55 cents due to county tipping fee increase. The average homeowner is expected to see an increase of $7.96 in their monthly bill.

Major capital expenditures in this year’s budget include the replacement of two police vehicles and a greenway patrol UTV, a replacement fire engine for fiscal year 2027 and architectural renderings for a third fire station, construction plans for a soccer complex, and annual street resurfacing projects. Also included are funds for East and South Smithfield water line improvements, and new vacuum and bucket trucks for Water/Sewer and Electric departments.

Four additional full-time staff positions include an Assistant Town Manager, Code Enforcement Officer (replacing two part-time positions), and two Public Works maintenance positions. Also included in additional staff are part-time summer positions for the town’s grounds maintenance.

Although no cost of living increases are included, budgeted salary increases have been set aside pending upcoming salary study results from outside firm Robertson Miller. At a previous meeting, Town Council voted to increase sworn police salaries by $10,000.

View FY24-25 Budget