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City manager proposes FY 2025–26 budget, recommends 4¢ tax-rate increase
Summary
City Manager Eric Garrity presented a proposed $49.3 million fiscal 2025–26 budget and recommended raising the city property tax rate from 65.5¢ to 69.5¢ per $100 of assessed value, citing increased appraised values and service costs; council directed staff to refine numbers and return with final figures before the September tax-rate decision.
City Manager Eric Garrity presented the City of Graham’s proposed fiscal year 2025–26 budget on a special-called council meeting, outlining a proposed total budget of about $49.3 million and recommending a city property tax rate increase from 65.5 cents to 69.5 cents per $100 of assessed value.
Garrity said the freeze-adjusted taxable value has increased about 10.4 percent in preliminary numbers and that, under current assessments, the city would collect roughly $4.0–$4.1 million in property-tax revenue to support the general fund. “I’m recommending a tax rate of 69 per $100 in assessed valuation,” Garrity said, and emphasized that council would not set the final tax rate until the formal vote in September.
The proposed general fund totals…
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