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Council sets public hearings for proposed 63¢ tax rate and budget; staff projects $5M deficit
The Colony City Council · August 5, 2025
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Summary
Council set Aug. 19 public hearings for a proposed tax rate of $0.63 per $100 valuation and for the budget and PID. Finance staff said the draft budget projects a $5 million deficit and noted about $900,000 in unrealized revenue tied to exemptions.
Finance staff presented a proposed 2026 tax rate and requested the council set public hearings for the budget, tax rate and a public-improvement district (PID) budget.
“Mister Miller” told the council the proposed tax rate is $0.63 per $100 of assessed valuation, down from 63.5¢ last year, and asked the…
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