Oxnard staff recommend 2025–26 public-safety pension property tax rate of 5.0615 cents per $100

Jim Costello, an administrative services analyst with the City of Oxnard finance department, recommended that the Oxnard City Council adopt a resolution establishing the fiscal year 2025–26 property tax rate to pay voter‑approved obligations for public‑safety pension expenses. "The recommendation is that the city council adopt a resolution establishing the fiscal year 2025–26 tax rates on property in the City of Oxnard for the payment of voter approved obligations related to eligible public safety personnel pension expenses," Costello said during a presentation to the council.

Costello said the proposed tax rate to raise the needed revenue is 5.0615 cents per $100 of assessed property value — about $50.62 for each $100,000 of assessed value. The proposed rate, he said, is a 7% increase over the current year’s rate but remains below Oxnard’s maximum allowable override rate of 7.6637 cents per $100 and about 7.6% lower…