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Staff: Percival property assessments up 6.54%; proposed tax rate unchanged
Summary
Assistant Director of Finance told council assessments rose 6.54% for 2025; the town manager proposed holding the tax rate at 0.205 per $100 so the FY26 budget can be presented March 19 and meet county reporting deadlines.
Percival's assistant director of finance presented the real‑property assessment results and explained why town staff advertised a tax‑rate hearing. "For tax year 2025, Percival's real property assessments increased by 6.54%," staff said, and noted the equalized rate is 0.192.
Staff said the Town Manager will present the proposed FY26 budget on March 19 based on a proposed rate not to exceed 0.205 per $100 of assessed value — the same nominal rate as 2024 — to meet the county's April 1 reporting deadline. Council members asked budget and funding questions, and staff explained that fully funding all department enhancement requests would add roughly 8.7¢ to the rate; the budget presentation is scheduled for March 19.
