Red Bank holds first reading of FY26 budget; staff proposes 5% property-tax revenue increase, 2% COLA

The City of Red Bank held the first reading of its proposed fiscal year 2026 budget during a May 20 work session, with City Manager Mark Grama and Chief Financial Officer Crystal Pickle presenting details to the commission and the public. The draft budget includes a 2% cost-of-living adjustment for staff and a proposal to increase property-tax revenue by 5 percent; a separate ordinance to set the tax rate will follow after Hamilton County’s reappraisal data is certified.

Why it matters: The reappraisal process underway in Hamilton County shows a median appraisal change of about 59.05 percent for Red Bank parcels, a figure city staff said will affect many taxpayers once the comptroller issues a certified tax rate. The budget’s revenue and spending choices will determine how much of that appraisal change is absorbed by rate-setting versus changes in local revenue and use of fund balance.

Grama opened the presentation, saying, “we are here to present to you the FY 26 proposed budget for the City of Red Bank, Tennessee.” Pickle and Grama walked commissioners through the budget packet posted on the city website and a calendar that sets…