Cave Creek approves $75 million FY26 budget, keeps $18 million placeholder for 4,005-acre open-space effort

The Town of Cave Creek unanimously approved a fiscal year 2026 budget of just over $75,000,000 and left an $18,000,000 placeholder to pursue purchase of 4,005 acres of Arizona State Trust land on the town’s west side, officials said.

The budget vote and the open-space direction were described in the town’s State of the Town presentation. The council also directed the town manager to convene an ad hoc open‑space committee made up of town residents to examine acquisition options and report back with recommendations, which the town said will be posted at cavecreekaz.gov.

Town officials said the council’s decision reflects a cautious approach that pairs public funding with private fundraising. “We have 2 and a half million dollars on hand. We have volunteers who are going to raise a lot of money,” the primary presenter said, and named partners including Desert Foothills Land Trust and Maricopa County. The presenter said the town expects additional private fundraising and partner contributions to supplement the placeholder amount.

The open-space parcel comprises roughly 12 parcels and includes washes, hillsides and natural features the town said are worth preserving; the presenter compared the effort to the Spur Cross Ranch conservation work the town has previously undertaken. The presenter said some funding routes originally contemplated—such as a special-purpose use tax—were judged riskier because they might require a referendum.

The presentation also highlighted the town’s fiscal position: the presenter reported about $30,000,000 in reserves driven by sales and construction taxes, and reiterated that Cave Creek maintains no property tax. Officials said a portion of construction-tax revenue is cyclical and will be used for one‑time projects such as road work rather than ongoing personnel costs.

Next steps: the ad hoc open-space committee is finalizing its report and will present its recommendation to the council; the town’s website will carry committee materials and updates on fundraising and timelines.