The City of Kinston has unveiled its proposed budget for the 2025-2026 fiscal year, totaling just over $133 million, up from $120 million last year. The proposed general operating property tax rate for FY 2025-2026 is $0.73 cents per $100 of assessed value, down from $0.77 cents the previous year. This comes on the heels of Lenoir County completing a county wide property revaluation. The proposed rate remains higher than the revenue-neutral rate of $0.5994 cents.