Board approves FY26 operating budget and new tax rates; motor vehicle mill rate set at 22.0

The Board of Estimate and Taxation on May 5 approved the city’s FY2026 operating budget and associated tax rates after a staff presentation summarizing totals and mill rates.

Tom (city finance staff) said the adopted operating budget totals $450,471,977. He explained a state legislative change requires the motor vehicle mill rate to be less than or equal to the lowest district real‑estate mill rate; the board set the motor vehicle rate at 22 to remain below the lowest district rate (District 6 at 22.3924). Tom also noted an increase in the business personal property (commercial) mill rate from 28 to 32; he reminded the board this is year two of a four‑year phase‑in previously adopted. Staff indicated the published numbers were consistent with prior year projections. The board approved the budget and tax rates by voice vote; the transcript records no roll‑call tally.

Board members asked for supplemental materials: Tom agreed to circulate a one‑page summary showing district percentage and dollar changes in median tax bills and an updated page in the budget book detailing appropriation down to net tax levy. Tax collector Lisa asked board members to sign rate bills at City Hall before issuance of tax bills so she can proceed with billing.