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Georgetown presents FY2026 budget with proposed property-tax increases to close gap
Summary
Town staff presented an initial FY2026 budget showing $9.16 million in revenues and $10.08 million in expenditures and proposed incremental property-tax rate increases and utility debt-service charges to close a $644,434 shortfall; council scheduled a workshop and public participation.
Town staff presented the town’s initial fiscal year 2026 budget to the Georgetown Town Council on March 17, 2025, showing $9,162,867 in total revenues and $10,075,381 in total expenditures and proposing tax and utility rate increases to balance the plan.
The presentation, delivered as the agenda item “initial presentation of the fiscal year 2026 budget,” said total debt service is budgeted at $633,225 and total capital expenditures at $66,000, producing a preliminary deficit of $1,611,739 that staff proposed to close using specific reserve and impact-account transfers and modest rate increases.
The staff presentatio…
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