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Santa Fe staff project a roughly $0.20 no-new-revenue tax rate in preliminary FY25-26 budget
Summary
City staff presented a preliminary FY2025–26 budget outlook showing a projected no-new-revenue tax rate near $0.20, options for voter-approval scenarios and a July 1 draft deadline under the city charter; council and staff discussed potential homestead exemptions and timing for a preliminary budget.
City of Santa Fe staff told the City Council on May 20 that the city’s preliminary fiscal 2025–26 budget currently projects a no-new-revenue tax rate near $0.20 per $100 of assessed value.
Rudy, a city staff member presenting the budget, said the projection comes from early tax roll estimates from the county and a municipal tax calculator that applies Texas truth-in-taxation conventions. He said the rate is a “no new revenue” estimate and that staff had also modeled voter-approval scenarios and the effect of allowed…
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