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Staff to include one‑mill reduction in budget; staff quantifies value per mill
Summary
City staff said they will include another one‑mill tax reduction in the upcoming budget and explained that one mill equates to $7,700 per mill for fiscal year 2025 and suggested the city expects about $700,000 in tax income when scaled to the tax base shown in staff charts.
Brunson told council the administration plans to include a one‑mill reduction in the proposed budget. “We will have another 1 mill reduction at a minimum into the next budget year,” he said, and he walked the council through staff’s calculation of the mill’s local dollar value for FY25.
Using the charted tax base staff presented, Brunson said one mill equated to about $7,700 in FY25 and that, when multiplied across the tax assessment in staff slides, produces roughly $700,000 in annual tax income. He emphasized that staff can model changes and will present the balanced budget at the April 28 special meeting for council review.
