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Arkansas City commission votes to exceed revenue-neutral rate, citing insurance uncertainty
Summary
The Arkansas City Commission voted 4-1 to approve a resolution to exceed the revenue-neutral rate for the 2026 budget, citing uncertainty about upcoming insurance costs and a $75,000 cushion in the proposed budget.
The Arkansas City Commission voted 4-1 on a resolution to exceed the state-designated revenue neutral rate for the 2026 budget, a move city staff said provides a cushion against uncertain insurance costs.
Jennifer, a city staff member, told the commission the revenue-neutral rate (set under 2021’s Senate Bill 13) is expressed in mills and “generates the same property tax revenue dollars as levied in the '24 tax year using the 2025 . . . assessed valuation.” She said assessed valuation rose roughly 9 percent this year; that…
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