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Commissioners set ad valorem tax rate and amend budget to include CDBG funds
Summary
The Board of Commissioners adopted the second reading of the city’s ad valorem tax ordinance (compensating rate plus 4) and approved a budget amendment to show Community Development Block Grant money required to appear on the FY2025–26 general fund budget; both measures passed unanimously.
The Board of Commissioners completed second readings and passed two ordinances related to tax rates and the budget.
Commissioner’s Ordinance No. 13, the second reading to levy and assess ad valorem taxes for fiscal year 2025–26, was described by City Manager John Hayden as a traditional compensating rate plus 4 percentage points. Hayden said the city’s budget is balanced but the rate is prudent to buffer for possible economic downturns. Commissioners noted the city’s comparative position in Campbell County and regional tax competitiveness; the ordinance passed on a unanimous roll call.
Commissioner’s Ordinance No. 14, an amendment to the adopted FY2025–26 general fund budget to reflect Community Development Block Grant (CDBG) funds received after the main budget adoption, was presented as a pass-through entry required by the grant terms. Hayden said the figures were not available when the budget was initially adopted, so the amendment simply records the grant funds now that amounts are known. The amendment also passed by unanimous roll call.
Both ordinances were moved and seconded during the meeting and received no public objections in the meeting record. Hayden and commissioners emphasized prior public hearings and budget presentations that informed the decisions.
