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Tracy Council Accepts Five‑Year Forecast; Staff Flags Potential $5M Sales‑Tax Drop in FY29
Summary
Finance director presented the city's five‑year forecast and preliminary operating/capital budget priorities; council accepted the forecast. Staff highlighted steady near‑term revenues but warned of a possible $5 million general‑fund decline tied to proposed sales‑tax allocation changes starting in fiscal 2029.
Tracy city council on April 1 accepted the city finance director’s five‑year forecast, which projects short‑term revenue growth and flags a possible general‑fund revenue decline beginning in fiscal year 2029 should proposed sales‑tax allocation changes be adopted at the state level.
Finance Director Sarah Castro presented the forecast and preliminary considerations for the fiscal year 2025–26 operating and capital budget. Castro said the city’s finances remain stable, with expected short‑term growth in property tax (2–3 percent) and sales tax (about 2.5 percent for the next year). She noted the city’s median home price and ongoing economic…
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