Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Tax topic
No spam. Unsubscribe anytime.
Murphy council adopts FY2026 budget and levies voter‑approval tax rate of 0.357514
Summary
After a public hearing, council adopted the FY2026 budget and a voter‑approval tax rate of 0.357514 per $100 assessed value; staff said the rate is about 1% lower than last year’s rate but will increase taxes because property values rose.
The Murphy City Council adopted the FY2026 budget and levied the voter‑approval tax rate of 0.357514 per $100 assessed value for the fiscal year beginning Oct. 1, 2025 and ending Sept. 30, 2026.
City staff walked through the budget development timeline, steps to comply with House Bill 1522 transparency requirements and the taxpayer impact statement used to show the effect on a median homestead value. Staff explained the difference between the voter‑approval tax rate and the ‘no new revenue’ rate and said the proposed voter‑approval rate is greater than the no‑new‑revenue rate, making the ratification step required. "The tax rate is that voter approval tax rate at 0.357514. It is about 1% lower than the current tax rate and the basis for the fiscal year 26 budget," staff said.
Council opened the public hearing on the tax rate and budget; there were no public speakers during the hearing and the public hearing was closed. Council then moved, seconded and approved adoption of the ordinance adopting the FY2026 budget and the tax rate; record votes were taken and the actions passed unanimously with Deputy Mayor Pro Tem Janae Butler absent.
Council also ratified the property tax revenue increase reflected in the FY2026 budget, as required because the adopted rate exceeds the no‑new‑revenue rate. The council did not change the adopted budget at this meeting.
Record votes during adoption were read into the record; the motion passed with all present council members voting "Aye" and one absence noted.
