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Southaven mayor presents FY26 budget; millage cut offsets state reassessment
Summary
City officials presented a $125.6 million proposed FY26 budget and said they will lower the city millage from 46.78 to 40.45 after a Department of Revenue reassessment raised taxable values.
Mayor (name not specified) presented the City of Southaven’s proposed fiscal year 2026 budget and a related property-tax plan, saying the city will reduce its millage rate to 40.45 to help offset a state-mandated reassessment that raised taxable values.
The proposal sets the total city budget at about $125,645,003 and a general fund of about $83,000,003, with public safety the largest share of general-fund spending. “Real property taxes must increase with the mandated assessment change to prevent budget deficits,” the mayor said.
Why it matters: the state Department of Revenue required counties to change assessment practices so property valuations move to a higher percentage of market value. In Southaven, officials said assessable values rose after the county…
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