Finance Director Melinda Morel outlined the city’s proposed 2026 property‑tax actions during two public hearings Nov. 10.

On the regular levy, Morel explained the statutory rule the council follows — the lower of 1% or the implicit price deflator (IPD) — and said staff used 1% for the calculation. She reported available banked capacity of $133,007, new construction additions of about $44,006, and showed homeowner examples to illustrate how assessed‑value changes and annexation rates affect bills. Morel emphasized that most of a homeowner’s total tax bill goes to other taxing districts (schools, King County) and that Kenmore’s share remains a relatively small portion of the overall levy distribution.

On the excess levy for the walkways and waterways bonds, Morel reviewed the bond schedule (original issuances in 2016 and 2021) and said about $12.3 million remains outstanding. Staff noted the current levy rate is approximately $0.116 per $1,000 assessed value — lower than originally projected — and estimated a cost to a median‑value home of roughly $112 for 2026 bond service.

Both items were presented for public hearing and continuation to adoption; there were no in‑person or online speakers signed up on Nov. 10, and the hearings were closed. Adoption is scheduled for the council’s upcoming meetings.