AGENDA CAPTION:
Title
Consider approval of Resolution 2026-140R, setting a maximum proposed tax rate of 65.1500 cents per $100.00 of taxable value; setting the dates of September 1, 2026 and September 15, 2026, as the dates to hold public hearings on the tax rate; and declaring an effective date.
*SEE TAXPAYER IMPACT STATEMENT AT THE END OF THIS AGENDA*
Body
Meeting date: August 18, 2026
Department: Finance
Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
Prior Council Action: On March 31,2026, City Council passed Resolution 2026-46R, approving the FY 2027 Budget Policy Statement. The Budget Policy Statement provided guidance for the property tax rate to be kept at the current rate of 65.1500?.
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Background Information:
Truth-in-taxation laws require the governing body to publish notice and hold a public hearing if the maximum proposed tax rate exceeds the lower of the no-new-revenue tax rate or the voter-approval tax rate. The following benchmark tax rates are important for the FY 2027 Budget:
No-New-Revenue Rate 63.5574?
Proposed Budget Rate 65.1500?
Current/FY26 Rate 65.1500?
Voter Approval Rate 68.3087?
City Council must set the maximum proposed tax rate for the FY 2027 Budget. The final adopted tax rate...
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