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City sets municipal tax rate at 2.1536%; board reserves $1.05 million in prior-year funds
Summary
City Council approved a 2.1536 municipal tax rate, a 6.7% increase over last year, and moved $1,045,979.50 of prior-year fund balance into a reserved assignment to preserve the voter-approved budget position while easing immediate levy impacts.
City Council voted to set the municipal tax rate at 2.1536 for fiscal year 2026 and to assign $1,045,979.50 of prior-year fund balance as a reserve on the balance sheet.
City Treasurer Mary Markowski told the council she had revised fund-balance calculations and recommended reserving prior-year funds so the city can comply with the voter-approved budget while limiting immediate tax increases. "The tax rate that I will I'm proposing is 2.1536 okay That's up from 2.0172 in f y 25," Markowski said.
The council approved a motion to set aside $1,045,979.50 as a prior-year fund balance assignment; the motion passed after the council suspended the rules. Council members then voted to adopt the municipal rate of 2.1536. Markowski said the…
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