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Texarkana council previews FY2026 budget, proposes 65¢ tax rate for publication
Summary
City staff presented the proposed fiscal year 2026 budget and recommended publishing a proposed tax rate of $0.65 per $100 of assessed valuation; council voted to publish notice but did not adopt final tax rate or budget, and will hold public hearings Sept. 8.
The Texarkana, Texas, City Council proposed publishing a tax rate of $0.65 per $100 of assessed valuation for fiscal year 2026 and received a detailed briefing on the proposed budget, city Chief Financial Officer Kristen Peoples said Monday. The council voted to authorize publication of the proposed tax rate, a step required before a public hearing and final adoption.
Council members heard that the proposed 65¢ rate exceeds the city's no-new-revenue tax rate of 0.603797 and falls below the voter-approval rate of 0.650101. Kristen Peoples said the publication step does not adopt a tax rate but gives public notice; the council will hold a required public hearing and roll-call vote on Sept. 8 to take final action.
Peoples, the city's chief financial officer, summarized revenue and spending highlights. Sales tax collections account for about 52% of the general fund; fiscal-year-to-date collections through May (reported in July) were $14.7 million, and projected FY2026 sales-tax…
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