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Commission reopens budget second reading; staff presents three tax-rate scenarios amid a large reappraisal
Summary
City staff presented three budget scenarios that differ by property tax revenue and projected use of fund balance as the commission resumes a tabled second reading during a reappraisal year; the certified municipal tax rate and county changes were discussed and residents spoke during the public-comment period.
The Red Bank City Commission resumed a work-session discussion on June 17, 2025 about the budget ordinance that had a tabled second reading, with staff presenting three scenarios that differ mainly by property tax revenue and the projected use of fund balance.
Finance staff framed the conversation as an amendment to a budget ordinance that previously passed first reading. The three scenarios in the staff packet include: Scenario 1 (no change from first reading) with an FY ’26 tax-rate projection of 94.164¢ and a projected use of fund balance of $415,675; Scenario 2 with an approximate 1% additional tax increase (overall ~6% property tax increase), a 95¢ projected rate and $363,175 use of fund balance; and Scenario 3 with an approximate 4% additional increase (overall ~9% property tax increase), a 98¢ projected rate and $205,675 use of fund balance. Staff repeatedly advised against amending…
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