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Holbrook council adopts 2027 budget; schedules July 22 second reading on property tax ordinance
Summary
The Holbrook City Council adopted Resolution 26‑15 to finalize the 2027 budget and held a first reading of Ordinance 26‑05 (no vote) on the primary property tax, noting the tax rate remains unchanged while rising assessed values increased projected revenue; a July 22 special meeting was set for the ordinance's second reading.
The Holbrook City Council voted to adopt the fiscal year 2027 budget (Resolution 26‑15) at its July 8 meeting after a roll‑call vote that recorded 'aye' votes by council members listed in the minutes. The motion carried and the budget was adopted.
At the same meeting the council read Ordinance 26‑05 on first reading — a proposed levy of the primary property tax for the fiscal year ending June 30, 2027 — and the mayor told the audience the tax "is the same tax rate as last year. There's no increase in this tax." The ordinance's second reading and any vote were scheduled for a special meeting on July 22.
Council members raised questions about an apparent increase in tax revenue despite an unchanged rate. One council member asked, "It says it'll be an increase of a $120,000. Where's that coming from?" The mayor responded: "Because property values have increased. The rate hasn't changed, but property values have." He added the assessments come from the county.
The council also discussed a $1,000,000 contingency line in the proposed budget. A council member asked whether the contingency funds were sitting in an interest‑bearing account and suggested the council consider putting the funds where they could earn interest if unused for a year; staff said they would check and report back. The transcript also recorded informal references to larger fund balances (figures quoted in discussion included $17,000,000 and $13,000,000) but staff did not provide a formal breakdown during the meeting.
The budget adoption was moved and seconded on the record; the mayor called a roll‑call vote and recorded approval. The council did not adopt the property tax ordinance on July 8 because it was only a first reading; the public hearing for the tax and the budget was opened and closed with no public comments.
Next steps: the council will hold a special meeting on July 22 for the second reading of Ordinance 26‑05 and to allow public comment prior to any vote. Staff said it will follow up with clarification about the contingency fund account and the county assessments that affect revenue projections.
