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Finance staff flags slowing assessed‑value growth, $1.5M in assessment appeal losses, and $1.126M refunding savings
Summary
Finance staff presented a 2026–27 revenue update showing a roughly $127 million revenue budget, slowing assessed‑value growth with approximately $1.1M already lost to assessment appeals (an additional ~$400k estimated open), and final bond refunding savings of about $1.126M (≈$300k realized this fiscal year). Staff expects to refine projections as the budget process continues.
Finance staff delivered the first of four budget briefings on March 18, updating revenue assumptions and risk factors for the 2026–27 budget.
Key takeaways: total budgeted revenue for 2026–27 is approximately $127 million (about a 2.1% increase year over year). Property taxes remain the primary revenue source (about 71% of total revenue and 88% of local revenue). Staff modeled a 3.5% millage increase assumption in line with the Act 1 index used for the preliminary budget, but noted that…
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