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Phoenix staff outline FY25-26 trial budget; TPT increase, fire, homelessness and water projects highlighted
Summary
City staff presented the proposed fiscal year 2025–26 trial budget framework, citing state revenue reductions, a previously approved transaction privilege tax increase, proposed allocations for fire response, homeless services and a water reclamation plant reopening.
City staff opened a public budget hearing by summarizing the proposed fiscal year 2025–26 trial budget and the rationale for specific revenue and spending strategies.
The presentation said recent state-level changes have reduced local revenue: “the state eliminated the ability for cities to collect residential rental sales tax, and they also lowered the individual income tax rate,” a staff presenter said. To offset those losses, the transcript notes the City Council voted on March 18 to increase the transaction privilege tax (TPT) rate from 2.3% to 2.8%,…
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