The Town’s new fiscal year, 2015-2016, begins July 1. The operating budget for the upcoming year was adopted by the Town Council at its Regular Meeting of June 7th, 2015. Just some of the highlights of the new year’s operating budget include the South Dogwood Trail replacement bridge over Snow Goose Canal – $ 1,314,731 (includes 80% grant from Federal Highway Administration!), capital improvements to failing streets – $516,000, and rebuilds and repairs to failing Town-owned canal bulkheads – $80,000.
As in the case of the last several years, the tax rate for Town taxpayers does not increase in order to fund this year’s budget. Although the Council directed the tax rate be raised for the previous fiscal year 2012-2013, this upcoming year marks the fifth year in a row that no tax rate increase has been recommended by the Town Manager/Budget Officer in the annual proposed budget filings.
A recent history of the Town of Southern Shores’ property tax rates:
Fiscal year Ending June 30:
2010 – 2011 .14
2011 – 2012 .14
2012 – 2013 .16 (Council directed increase)
2013 – 2014 .22 (Revenue neutral-previous year due required property revaluation)
2014 – 2015 .22
2015 – 2016 .22
For more information about the Town’s recent tax rate history, see http://www.southernshores-nc.gov/wp-content/uploads/2015/06/PROPERTY-TAX-RATE-HISTORY.pdf . Please contact Town finance staff if you have any questions whatsoever regarding your Town’s budget and the property tax rate.