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Asheville projects FY26 revenue dip; staff outlines $4.5M in savings and tax scenarios to protect fund balance
Summary
City staff told the Asheville City Council that projected FY26 general fund revenues could be down $1–4 million and outlined $4.5 million in initial savings while presenting property tax scenarios to protect fund balance and bond ratings.
City staff presented initial FY26 general fund projections at a budget work session and asked council whether staff should develop budgets that include property tax scenarios to maintain the city's fund balance and bond rating.
Budget Manager Lindsey Spangler and Finance Director Tony McDowell said current projections show general fund revenues may be down between $1 million and $4 million next fiscal year, reflecting an estimated 1.25–1.5% decrease in the property tax base and continued uncertainty in sales tax receipts. The city used approximately $7.7…
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