Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Taxes topic
No spam. Unsubscribe anytime.
Franklin council ratifies FY24–25 real estate tax rate after public hearing
Summary
Council ratified the previously adopted FY24–25 real estate tax rate (maintained at $1.03 per $100 assessed value) after a public hearing where residents raised concerns about rising assessments and separate enterprise utility rates.
Franklin City Council ratified a resolution on Aug. 26 reaffirming the city's adopted FY24–25 real estate tax rate, which the council said remained $1.03 per $100 of assessed value.
Interim City Manager Bertram reminded the public that the council held a public hearing on May 13 when the budget and proposed tax rate were discussed and that an updated reassessment came in higher than earlier estimates (27.5% vs. roughly 25%). She said the ratification on Aug. 26 merely reaffirms council's earlier action after the reassessment numbers were finalized.
Several residents spoke during the hearing, expressing concern about the combined economic pressure of higher property assessments and rising utility bills. One resident asked whether enterprise (utility) funds could be used to offset general-fund taxes; staff and council explained the city's electric utility operates as an enterprise fund separate from the general fund and cannot be used to mask tax decreases without adjustments to utility rates.
A motion to adopt Resolution 2024-24 to ratify the real estate tax rate was made and carried during the meeting. Council members debated funding priorities and past decisions about gradual tax increases, including concerns from some members about perceived "frivolous spending" and from others about meeting service needs without further cuts.
Next steps: the ratified rate will remain in force for FY24'25 as reaffirmed by the council; staff will continue budget oversight and report back on financial planning and any proposed financing options discussed in future sessions.
