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Valley Center presents first draft 2026 budget as assessed valuation jumps about 15%; employee benefits fund flagged
Summary
City staff presented the first draft of Valley Center's 2026 budget showing an estimated total assessed valuation of about $87.8 million (a roughly 15.17% increase), a proposed mill levy of 53.656 and red flags on the employee benefits fund due to higher-than-expected medical claims.
City staff presented the first draft of Valley Center's 2026 budget at the council meeting, reporting an estimated total assessed valuation of $87,769,650 (a roughly 15.172% increase over last year), a proposed mill levy rate of 53.656 and a number of fund-level changes. Staff emphasized uncertainty in the employee benefits fund and confirmed the city's ARPA funds have been spent and the account closed.
The presenter said the valuation increase came from new construction ($4.3 million), property changes ($1.25 million), a $1.3 million increase in the TIF district and higher assessed values for existing properties. Using those numbers, staff…
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