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Council sets preliminary millage rate for FY2026 after hearing value growth; staff notes small taxpayer effect per 1% cut
Summary
The council voted to set the city’s preliminary operating millage at 5.9604 and the debt-service millage at 0.2445 for FY2026; staff noted taxable values rose about 13% and that a 1% millage reduction would cut only about $10 for the average assessed property while reducing city revenues by about $381,000.
City staff presented the proposed millage rates for fiscal year 2026 and the council set preliminary rates Wednesday: the operating millage at 5.9604 mills and the debt-service millage at 0.2445 mills.
Staff reported that the citywide taxable value base rose roughly 13% year over year (to about $6.3 billion),…
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