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City proposes FY26 property tax rate of $0.1018 per $100; dollar levy unchanged from FY25
Summary
City staff told the council the proposed primary property tax rate for fiscal year 2026 is $0.1018 per $100 of assessed value, estimated to generate $394,973; staff said the total dollar levy will remain the same as FY25 and the city is not required to publish truth-in-taxation notices.
Jen, a city staff member, told the City Council that “for FY ’26, the rate proposed is 0.1018 per 100 of assessed value, which will generate an estimated $394,973 for the fiscal year.” She said the proposed change reflects higher assessed valuation and that the actual dollar amount paid by property owners in FY26 will be the same as in FY25. Jen said, “the city is not required to publish truth in taxation notices for the property tax levy.”
Council discussion clarified the city’s long-standing approach of keeping the primary property tax rate stable as assessed values rise. Rob, a council member, observed that the policy has meant the tax rate “has been creeping ever so slightly lower, every year,” and staff confirmed the rate adjustment is intended to avoid additional state publishing requirements. A council member asked why the city does not allow the mill rate to rise with assessed values; the response reiterated the council policy to hold rates steady and noted other local taxing entities also rely on property taxes.
The staff presentation identified the statutory requirement to hold a public hearing on the levy; Jen said the public hearing will occur on Thursday. The council did not take a final vote on the levy during the meeting.
The item remains scheduled for the public hearing and subsequent action; no final levy adoption or vote was recorded in the transcript.
