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Winchester finance committee gets FY26 budget overview; officials flag tax-rate, stormwater bond and elections costs
Summary
Finance committee reviewed the FY26 budget overview and departmental requests, including a projected revenue-neutral tax rate near $0.73, a proposed 3% cost-of-living adjustment, replacement of election tabulators and a potential new elections deputy position; no formal budget votes were taken.
The Winchester Common Council Finance Committee heard an overview of the proposed fiscal year 2026 budget Wednesday, with staff warning that real-estate assessments and must-do operating costs will shape the council’s upcoming decisions on the tax rate and departmental priorities.
Dan Hoffman, a city staff member and presenter of the budget packet, told the committee that reassessments showed taxable values rose about 13.5% and that the city’s revenue-neutral tax rate is being calculated by the commissioner of revenue and is “about 73¢” as a ballpark estimate. “Just because … the assessed value of your property went up, that doesn't mean there's an automatic rate increase,” Hoffman said. He added that council will set the final tax rate after public hearings.
The presentation summarized a fund-balance policy that targets a 20% unassigned fund balance; the city ended FY24 at about 25.5% and holds a $2,000,000 capital reserve. Hoffman said organic revenue growth—excluding new real-estate tax receipts—was roughly $1.7 million under the current assumptions.…
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