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Mission staff outline options to close 2026 budget gap; 1-mill equals roughly $232,000
Summary
City staff presented budget options including maintaining revenue-neutral rate, preserving current mills, or signaling intent to exceed revenue-neutral; they reported a 1-mill yield of about $231,000 and said a 3.5‑mill increase would roughly cover the projected deficit under current assumptions.
City finance staff ran the committee through the general fund picture for the 2026 budget and the legal steps required to signal an intent to exceed the revenue-neutral property tax rate.
"The county provides a revenue neutral rate to us by mid June of each year," staff said, explaining the statutory timing and that any resolution signaling intent must be filed with the county clerk by July 20. Staff reported that one additional mill would generate about $231,000 to $232,000 under current valuation assumptions and showed options ranging from maintaining the current mill rate to a multi-mill increase to close a structural gap in the draft 2026 numbers.
Committee members debated whether to include a high upper‑limit number on the required "resolution of intent" (which can be lowered later but not increased) as insurance against loss of local authority or unexpected revenue shortfalls. Staff recommended transparency and follow-up community engagement, and several members asked for additional analysis of targeted relief programs and the effect on different household types if mills were increased.
