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Merriam council votes to exceed revenue‑neutral rate and adopts 2025 budget
Summary
After a public hearing, the council voted 7–0 to exceed the revenue‑neutral mill rate and then adopted the 2025 operating budget; staff recommended a mill rate of 26.665 versus a revenue‑neutral rate of 21.168 to restore about $1.5 million in projected property tax revenue.
At a public hearing on the city budget and revenue‑neutral rate, staff presented the 2025 proposed operating budget and the mechanics behind the revenue‑neutral calculation.
“Revenue neutral rate is...21.168,” the budget presenter noted when explaining the concept that the revenue‑neutral rate would yield the same total property tax revenue as the prior year given increased assessed valuation. Staff recommended a mill rate of 26.665 for 2025, which the presenter said would raise roughly $7.7 million in property taxes…
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