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Wichita Falls previews FY26 budget with small property-tax rate cut, one-time investments
Summary
City staff presented a FY26 draft budget Aug. 12 that proposes a slightly lower property-tax rate, uses healthy reserves for one-time capital, and relies on a mix of revenue changes and fund balances to finance employee pay increases and projects.
Wichita Falls — City staff presented the draft fiscal 2026 budget at a special Wichita Falls City Council meeting on Aug. 12, proposing a modest cut to the property-tax rate while using fund balances for one-time capital and employee pay increases.
The budget presentation said certified property values were “just shy of $8,000,000,000,” an increase of 3.73% from the prior year, and proposed a tax rate slightly below the current rate of 0.6848. Steven Calvert, the budget presenter, told council members the proposed rate in the FY26 draft is 0.6825, “about 0.34% lower than the current tax rate,” and that the document also uses fund balances and new local revenue to support one-time projects.
Why it matters: property values and the tax rate determine how much homeowners pay; the draft also sets staff pay increases and capital spending that will affect service levels and future…
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