City finance director presents FY2027 budget; proposed levy would lower homeowners' city property taxes

Bridget Wood, the city's finance director, told the council at a work session on April 6 that the proposed FY2027 budget she will publish includes a levy the mayor wants certified so homeowners would pay less next year.

Wood said the state's rollback for the year (44.5345%) reduces the taxable value of a $100,000 house to about $44,535. "Since it will be published in the paper, we have to note that we cannot increase or go over what is being published, but we can decrease," she said, explaining constraints on changes after publication and how the rollback affects tax bills.

The proposed certification would lower the city's portion of a typical homeowner's bill by roughly $63 annually, a drop Wood described as about a 6% decrease. She told the council the presented figures balance roughly to a net zero change when revenues and expenses are combined: estimated revenue increases (about $1.8 million excluding property taxes; about $2.28…