Council adopts $129.24 million budget, holds public hearing on proposed property tax rate of $0.1018 per $100

SIERRA VISTA, Ariz. — The Sierra Vista City Council on July 24 approved the city's fiscal year 2025–26 operating budget of $129,244,638 and held a public hearing on a proposed property tax levy that city staff said is set at 0.1018 per $100 of assessed value. City staff said that rate is expected to generate an estimated $394,973 for the fiscal year. The council also approved a separate resolution stating the city's official intent to reimburse certain capital expenditures with tax-exempt financing if later needed.

The proposed property tax rate and revenue estimate were presented by Nella Jin, a city staff member, during the statutorily required public hearing. Jin said, "For FY26, the rate is proposed at 0.1018 per $100 of assessed value, which will generate an estimated $394,973 this fiscal year. The slight increase in revenue from the previous fiscal year is due to new construction, and the rate was adjusted slightly lower in FY26 due to increased valuation of taxable…