Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tax Valuation Mill Rate topic
No spam. Unsubscribe anytime.
Assessor estimates $25 million in new value; city manager projects 4.52% mill-rate increase
Summary
City staff told the council the assessor is comfortable conservatively adding $25 million in new assessed value for FY26. With current budget choices, the manager said that would produce a mill-rate increase of about 4.52%, raising the rate to roughly $23.26.
City Manager Phil Kroll briefed the Auburn City Council on the assessor's preliminary valuation work and how it affects the FY26 mill rate.
"Where the city assessor currently is at is on the total assessed value that she felt with a conservative number we could add 25,000,000 into the city's value, for, assessed value change," Kroll said. He emphasized the figure is conservative and could increase as the assessor completes personal-property and new-construction work.
Kroll showed a summary that, with the currently presented budget adjustments and the $500,000 school reduction, the mill-rate increase would be about 4.52% and "the mill rate will now, if this moves forward, would be $23.26 and last year was $22.25." He added that the $25 million estimate was not expected to decrease: "we would not expect that 25,000,000 to go down and, reasonably, it could go up depending on what they find as they complete their work."
Councilors ran rough calculations in the meeting and estimated the $25 million of new value would generate roughly $500,000–$580,000 in new tax revenue at current rates; managers said staff will provide a valuation breakdown as the assessor completes her work.
Ending: The assessor's conservative $25 million addition to assessed value improves the levy picture but staff cautioned final numbers won't be available until tax commitment; councilors asked staff to bring final valuation detail before May 5 budget decisions.
