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Commission adopts final FY2026 millage and budget; city sets 4.9‑mill rate, up 4.22% over rollback
Summary
The commission adopted the final fiscal year 2026 millage rate of 4.9 mills—4.22% higher than the rollback rate—and approved the FY2026 budget as presented; staff said the increase funds operations and rising costs and that available FY25 appropriations will be used to obligate certain contracts before year end.
The Stewart City Commission adopted the final millage rate and fiscal year 2026 budget during a second public hearing on Sept. 22. The commission set a 4.9‑mill property tax rate, which staff said is 4.22% above the computed rollback rate of 4.7014 mills. Commissioners voted 5‑0 to adopt the millage (Resolution 96‑2025) and to adopt the final budgets for FY2026 (Resolution 97‑2025).
Finance staff reminded the commission the hearing followed the required public notice and that no substantive changes to the budget had been made since the tentative hearing. The purpose of the 4.9‑mill rate, staff said, is to fund ongoing operations and recognize normal increases in costs for city services.
City staff also explained some newly authorized contracts (environmental counsel, federal relations, and engineering work) will be funded from previously appropriated FY25 dollars; they recommended issuing purchase orders to obligate those funds prior to the Sept. 30 fiscal year end so the monies carry forward under purchase order obligations.
Why it matters: Adoption of the millage and budget determines the city’s primary property tax levy and spending plan for the coming fiscal year. Staff said the city retains a strong bond rating and healthy fiscal position and that Moody’s rating remains consistent with cities of comparable size.
Action: Commission motion to adopt the final millage and budget; roll‑call votes were unanimous in favor.
