Breaking it down
Finance Director Sarah Buckelew said the annual budget is around $181 million, and capital improvement projects make up around 32% of expenditures.
The general fund, which covers daily operations and expenses, accounts for $43 million of the budget, while city utilities are expected to cost around $88 million. City utilities revenue comes from rate payers rather than property taxes.
The proposed tax rate to support the FY 2025-26 budget remains unchanged from the previous fiscal year at $0.4716 per $100 valuation.
While the tax rate will be unchanged, taxes paid to the city will depend on individual property appraisal values.
According to the budget, the city will raise $1.08 million in additional property taxes, and $266,194 of that revenue will be raised from new property added to the city tax roll.
What else?
Following the public hearings for the budget and tax rate, City Council approved the first reading of an ordinance adopting the capital improvement plan for FY 2026-29.
This plan includes the construction of Fire Station No. 2, parking improvements, street improvements, an analysis for the need of a new animal shelter and other planned projects over the next few budgets.
The second public hearing and final adoption for the budget and tax rate are planned for Sept. 9.
