The vote set the maximum tax rate the city could adopt under its budget that will be in effect from Oct. 1 until Sept. 30, 2026. The city can still adopt a lower tax rate than proposed, and the vote set two public hearings on the budget for Sept. 4 and Sept. 11.
The details
The city’s proposed FY 2025-26 budget currently accounts for $215.2 million, Interim Director of Finance Erica Solis said at the council meeting.
The general fund, which funds day to day operations, is set at $82.9 million. There’s $45 million in the city’s utility fund, and there’s $87.3 million in the restricted fund, which provides funding for special purposes in the city.
What else?
Solis said the proposed $0.36 property tax rate is a 3/10 cent decrease from FY 2024-25’s rate of $0.363 per $100 of value.
Of a person’s property tax payments to the city, 54% will go toward day to day operation, and 46% will go to servicing the city’s debts, she said.
The proposed FY 2025-26 budget is available on the city’s website.
