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Prospect adopts interim tax rate increase, advances FY2025–26 budget after split vote
Summary
The Prospect City Council adopted an ad interim tax rate on a 4–3 vote and gave first reading to the fiscal 2025–26 budget after debate over a 22% rise in tax receipts since 2022.
The Prospect City Council adopted an ad interim tax rate of 18.3¢ per $100 of assessed value on a 4–3 vote Tuesday and gave first reading approval to the city’s FY2025–26 budget.
Mayor Doug Barnsley, presenting the budget, said the city remains financially healthy and explained the proposed rate change and spending priorities. "The city of Prospect remains on a sound financial footing," Barnsley said, noting a $150,000 surplus last fiscal year and "just under $4,000,000 in cash on hand" as of June 1.
Barnsley told council members the proposed rate — 18.3¢ per $100, up from the current 17.4¢ — would generate additional revenue used for employee pay adjustments, a local match for state-funded highway work, and capital projects. He calculated that a homeowner of a…
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