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Killeen staff warn of tight 2027 budget, cite $16.9M loss from exemptions
Summary
City staff told the council a preliminary 2027 forecast shows a roughly $1.9 million shortfall on a $130'$138 million base and highlighted a $16.9 million revenue loss tied to the disabled-veteran exemption, urging legislative and grant strategies to close the gap.
City staff presented a preliminary 2027 budget forecast and warned the council that the city faces tight finances driven by limited revenue growth and rising personnel costs.
"These are just projections," said Mister Cagle, the staff presenter introduced by the mayor, explaining the budget calendar and assumptions. He told the council a 1 percent cost-of-living increase would cost about $860,000 and that a 1-cent change in the tax rate generates roughly $1 million in revenue. Using current assumptions, the early forecast shows a roughly $1.9 million shortfall on a roughly $130'$138 million…
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