Town Of Smithfield Adopts 2025-2026 Fiscal Year Budget, Sets New Property Tax Rate

SMITHFIELD — The Smithfield Town Council officially adopted the Fiscal Year 2025–2026 budget Tuesday evening, setting the property tax rate at 45 cents per $100 of assessed property value.

Mayor Andy Moore praised the collaborative effort behind the budget process. “This year’s budget reflects the Council’s continued commitment to maintaining high-quality services, investing in infrastructure, and supporting public safety. The budget strikes a balance between financial responsibility and community investment. By reducing and holding the tax rate at 45 cents, we’re staying true to our goals—funding the services our residents rely on every day, while respecting the impact on taxpayers.”

Highlights of the new budget include:

• Increased funding for police and fire services, including new equipment and personnel support.
• Continued investment in streets and sidewalk improvements.
• Support for parks and recreation programming and community events.
• Strategic capital investments in water and sewer.
• No increase in residential electric rates. (The proposed budget had originally included a 3.5 percent increase.)

The budget funds the hiring of two additional sanitation workers, one additional school resource officer, one additional fire inspector, three additional fire fighters and one utility line locator/inspector.

An unprecedented $2,440,900 is included for street resurfacing, on top of the already current budgeted amount of $897,000 for Outlet Center Drive repaving and an additional $1,000,000 for various other street resurfacing and repairs to include part of Third Street.

Additionally, funding is included for two new police vehicles, a new police K-9, a new truck for fire inspections, a new truck and mower in the Public Works – General Services Division, a new truck in the Public Works – Streets Division , a new truck in the Public Works  – Sanitation Division, a new vehicle for Code Enforcement, Cross Walk Improvements at the Splash Pad, Court resurfacing at Smith Collins Park and Community Park, and some new obstacles at the Second Street Dog Park.

Also included is $400,000 for water/sewer improvements to the East Smithfield system, $425,000 to the South Smithfield System, $300,000 for water intake improvements at the water plant, $350,000 for Inflow and Infiltration improvements on sewer lines, $450,000 for the multi-year Electrical Voltage Conversion Project, $300,000 for Electric Delivery Point Improvements and $200,000 for the AMI (automated meter) project.

Town Manager Mike Scott had recommended a proposed property tax rate of 47 cents down from 57 cents due to the property revaluation. The town council and mayor trimmed the budget allowing it to be lowered to 45 cents, three cents above the revenue neutral rate of 42 cents.

The new fiscal year budget takes effect on July 1.