Tampa proposes nearly $2 billion FY26 budget; officials say property taxes fall short of public safety costs

Dennis Rejero, chief financial officer, presented the City of Tampa's recommended fiscal year 2026 budget to the City Council, proposing an all-funds plan just under $2 billion and saying property-tax revenue will not cover the city's public safety costs.

The mayor and finance staff framed the budget as constrained by slower property-value growth and rising costs for compensation, health care and other inflationary pressures. Rejero said the recommended budget shows about $708 million for the general fund and roughly $814 million for enterprise funds and that major revenue increases total just over $53 million.

The budget presentation noted total property taxes anticipated at a little over $380 million, but Rejero said nearly $60 million of that is directed to community redevelopment agencies (CRA). From the city's general fund perspective he said that leaves about $320 million in property-tax revenue against more than $414 million in projected police and fire costs, a gap Rejero emphasized when discussing long-term fiscal planning.

Rejero identified the largest single expenditure increases as compensation and benefits, about $30 million, and reported requests for roughly 24.5 additional positions citywide for FY26 while noting the presentation also referenced 4.5 full-time-equivalent positions in another context. He said the city remains at a low personnel-to-population ratio among its peers and continues to have one of the lower millage rates versus comparable Florida cities.

The presentation also summarized other revenue items (judgments and fines, utility and communications taxes, and payments in lieu of taxes/franchise fees from enterprise funds) and reiterated that the proposed budget will be available on the city's website at noon. Rejero said council review will continue through two workshops next month and public hearings in September, with staff available to provide more detail in follow-up sessions.

The presentation contained no formal motions or votes during this item; staff described the recommended budget and invited council questions and future hearings.