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City presents balanced FY27 budget with no property tax increase and $6M in one-time capital draws
Summary
City finance presented a proposed FY27 budget with a $499 million net operating plan, no new taxes, modest capital spending cuts and use of $6 million in unassigned fund balance for one-time projects; council questioned fund balance accounting, capital priorities, staff increases and pension costs.
City leaders and department heads spent the day briefing Knoxville City Council on the proposed fiscal year 2027 budget, which finance staff described as balanced and delivered without a property tax increase.
The city27s proposed total budget is about $663.5 million, with a $499 million net budget after excluding interfund transfers and internal charges, finance staff said. That net amount is roughly 4.6% higher than the current year, driven largely by higher personnel costs and inflation. The general fund is proposed at about $344 million. Capital spending is proposed at $40.7 million, down roughly $7.2 million from…
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