What you need to know
The council first approved the proposed tax rate during its Aug. 4 meeting, as previously reported.
City officials said the rate exceeds the no-new-revenue tax rate and will generate more property tax revenue than in fiscal year 2024-25.
During the discussion, officials clarified that while the rate reflects an effective 7.98% increase compared to the no-new-revenue rate, the actual impact on homeowners is minimal. For example, a $300,000 home would see an additional $13.74 per year on the city portion of its tax bill.
Council member John Ford said this year’s financial management and economic development efforts influenced his support.
“Over the last two budget years, I’ve voted no because of this tax rate, and this year because of the job our staff has done and the improvement of our tax base that's come in to allow us to do this. ... I’ll be voting yes,” Ford said.
What’s next
The proposed rate will return for a final public hearing Aug. 25, with final approval expected afterward.
