Council approves first reading of tax-levy ordinance; city estimates $946,000 from mill levy

Summary

The council approved first reading of the ordinance levying taxes for FY2026. The city levies the full eight mills; three mills go directly to the fire district and the city expects to receive revenue from five mills estimated at about $946,000, a roughly 12.5% reduction from the prior year tied to recent property-tax changes.

The Cody City Council approved the first reading of an ordinance levying taxes for fiscal year ending June 30, 2026. Council member Cindy introduced the ordinance and described how the city collects the mill levy: the city levies the full eight mills, but three of those mills go directly to the fire district, leaving five mills that generate revenue for the city.

City staff reported the city expects about $946,000 from the mill levy in FY2026, a reduction of roughly 12.5% from the prior year. Council staff explained the reduction was driven by recent legislative changes that reduced property tax assessments; final valuation is not available until July and the staff noted the dollar impact may change slightly when valuations are finalized.

A motion to approve the first reading carried after the council moved, seconded and voted "aye," and the presiding officer recorded the motion as passed. The ordinance appears on the agenda as Ordinance 20 25 16 (first reading).