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City manager outlines changes in preliminary 2026 budget; property-tax revenue rises by about $97,933
Summary
City manager reported an increase to the general fund property-tax revenue estimate of $97,933 due to updated King County assessor figures and reviewed capital funds, REET transfers, and transportation and parks projects during a study session.
City manager Scott Pingle briefed the Newcastle City Council during a budget study session on Oct. 21, describing a modest adjustment to the preliminary 2026 budget and outlining capital and fund-specific plans.
Pingle said the primary change to the preliminary budget is an increase of $97,933 in the real and personal property tax revenue line, driven by updated new-construction estimates from the King County assessor. He described prior-year examples in which new-construction estimates changed materially between preliminary and later figures and said the assessor provides updates that the city must incorporate before final adoption.
Staff reviewed several funds that had not been discussed previously in the budget sessions.…
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