Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Red Bank moves to correct certified tax rate after reappraisal error, sets FY2026 general revenue rate at $1.1306 per $100
Summary
City staff told the commission an earlier certified tax rate was set incorrectly after the 2025 reappraisal; the commission approved an ordinance setting a tax rate of $1.1306 per $100 for FY2026 (first reading) to align budgeted revenue, though the city cannot collect the marginal difference because bills already mailed.
The Board of Commissioners of the City of Red Bank approved on first reading an ordinance to correct the city’s certified property tax rate for fiscal year 2026.
A finance presenter told the commission that the city’s earlier certified tax rate had been incorrectly recorded at $0.8968 after the 2025 reappraisal. "This error created a budget revenue shortfall in FY26 approved budget," the presenter said, and staff identified the revenue-neutral certified rate as $1.0775. To meet budget needs, the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
