The details
While the proposed rate is lower than the current tax rate of $0.5428, it’s a 1.6% increase from the no-new-revenue tax rate of $0.5264, which is the rate that produces the same amount of revenue as the previous year.
In fiscal year 2025-2026, the average homestead is valued at $378,234 and would pay roughly $169 per month under the maximum tax rate.
Under the proposed property tax rate, the city will generate $45.42 more in revenue from the average homestead than the previous year.
What they’re saying
“The city is experiencing flattening sales tax trends, the slowing of residential development and a changing commercial landscape,” City Manager Sereniah Breland said in a news release. “Despite these challenges, the proposed budget provides for the continued delivery of excellent programs, services, facilities, roads and other projects that will enhance the quality of life for our community.”
The new tax rate will raise more taxes for the general fund, which funds infrastructure, public safety and programs among other things.
What’s next
Residents may express their support or opposition of the proposed property tax rate by contacting members of City Council or by attending the public hearing on Sept. 9 at 7 p.m. At this time, City Council may decide to lower the maximum tax rate but they cannot raise it above $0.5350.
