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Council reviews preliminary 2024–25 budget: tax base up, midpoint millage proposed; public hearings set
Summary
Staff briefed council on the preliminary 2025 budget: taxable base up ~8.69% to about $13 billion; a midpoint millage of 6.5255 was presented (current 6.6999; rollback 6.3510). The draft includes increased utility revenues, a 10% stormwater assessment, $2M from reserves for paving and a 2025 CIP of roughly $172.6M. Council discussed millage choices and asked for more detail before the tentative adoption hearing.
The budget presenter walked council through drivers for the draft 2025 budget, reporting an estimated taxable value increase of 8.69% (bringing the city tax base to roughly $13 billion) and proposing a midpoint millage of 6.5255 (current year 6.6999; rollback 6.3510). Staff noted the millage is tentative and will be set at the first public hearing; councilors discussed the trade‑offs between the midpoint and rollback rates and the need to preserve reserves ahead of large capital projects, including a planned police headquarters and STARS expansion.
Staff itemized revenue and expenditure highlights: $6.6 million in additional ad valorem revenue at the midpoint scenario, $4.1 million from water/sewer base and tier changes, a 10% stormwater assessment increase (raising an average assessment from $117.60 to $129.36), and $2 million of reserves proposed for additional street paving. The 2025 capital program totals approximately $172.6 million with a five‑year CIP nearing $929.9 million; staff committed to provide council with further analysis on borrowing scenarios and debt service implications before adoption.
