Lake Elsinore Council praises financial team for $80M property tax savings

The City of Lake Elsinore held a City Council meeting on May 13, 2025, where key discussions centered around financial savings for residents and the city’s ongoing fiscal management.

The meeting began with a public comment period, but no requests were made by citizens to speak. Following this, Councilman Sheridan expressed his gratitude to Mr. Bush and his team for their efforts, highlighting potential savings of $174 to $680 per parcel for residents. He emphasized the importance of these savings as outlined in the staff report.

Councilman Manos followed with remarks on the favorable interest rates associated with the city’s financial strategies, noting that the city’s financial team has consistently worked to reduce property tax burdens for residents. He commended their diligence in achieving these results, contrasting Lake Elsinore's situation with other areas facing rising costs.

Councilwoman Johnson echoed the sentiments of her colleagues, emphasizing the significance of nearly $80 million in savings across 4,000 parcels. She acknowledged the rarity of such financial relief in the region and expressed readiness to proceed with the necessary resolutions to implement these savings.

The meeting underscored the City Council's commitment to fiscal responsibility and the ongoing efforts to provide financial relief to Lake Elsinore residents. The council members expressed optimism about the future financial outlook for the city and its taxpayers.