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Council holds public hearings on proposed FY24–25 budget and ad valorem tax rate
Summary
On Sept. 16 Lancaster staff opened public hearings on a proposed tax rate of 0.604606 per $100 and a FY24–25 budget totaling $94,905,988; no public opposition spoke at the hearings, and a second public hearing was scheduled for Sept. 23.
Lancaster held two related public hearings Sept. 16: one on the proposed ad valorem tax rate for fiscal year 2024–25 and one on the proposed city budget for the same period.
Tax rate: Staff explained the proposed rate of 0.604606 per $100 of assessed value and outlined the allocation between maintenance and operations, street maintenance, new equipment funds and interest/sinking requirements. Staff said the proposed rate is a reduction from the current year and announced a second public hearing and consideration of the rate for Sept. 23 at 7 p.m. in council chambers. State Representative Carl Sherman addressed the council and praised efforts around tax relief at the state level and encouraged the council’s attention to taxpayers’ needs.
Budget: Staff presented the proposed FY24–25 budget for all city funds at $94,905,988 and likewise announced a second hearing and consideration on Sept. 23. Council members were reminded the proposed budget is available for public review in the city secretary’s office and on the city website.
Next steps: Both matters remain in the hearing stage; the council will consider adoption on Sept. 23 after the second hearings.
