Georgetown presents FY2026 budget with proposed property-tax increases to close gap

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 presentation explained how the deficit would be addressed: draw $266,000 from the realty transfer tax account, $581,517 from sewer impact cash accounts, $25,300 from depreciation accounts and $94,488 from reserve accounts, leaving a remaining gap of $644,434. To generate that amount, staff proposed a property-tax increase of $0.39 per $100 of assessed value to raise $209,000 (for general obligation bond-related costs) and an additional operating tax increase of $0.53 per $100 of assessed value to raise $287,285. Two utility debt-service rate adjustments were proposed: a water debt-service charge (per 30,000 gallons) expected to raise $82,313 and a sewer debt-service charge expected to raise $65,836. Staff said the total additional revenue from those rate changes would be $644,434 and would bring the budget into balance.

Council members asked for a workshop and public engagement. Staff said a Doodle poll would be sent to schedule a budget workshop with council and department heads; the session will be advertised and open to the public. Council member Christine expressed opposition to tax increases tied to a new police department fundraising effort, saying she was unhappy about imposing taxes for that purpose. Staff gave no timetable for final adoption during the March 17 presentation; the item was introduced for council review and public input rather than for final vote.

The presentation also included a brief update on timing and next steps: the draft budget is for council review, a workshop will be scheduled for council and department heads, the workshop will include public participation and subsequent legislative steps were not specified in the March 17 discussion.

The council did not take a final vote on the FY2026 budget at the March 17 meeting; the item remained at the initial presentation stage pending the workshop and further council action.