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Staff outlines revenue increases, rollback-rate math and estimated millage effect
Summary
Staff projected a roughly 9% increase in local option sales tax and quantified the difference between the current millage and the rollback rate at about $1.0 million in levied taxes (roughly $596,000 after collection assumptions). Council discussed how excess revenue would be allocated under policy.
Kaye presented revenue assumptions in the proposed FY2026 budget and walked the council through differences between the current millage and the rollback rate. Staff projected local option sales tax to grow from $27.5 million to $30.0 million (about a 9% increase). Insurance premium tax was shown as an estimated 8% increase to roughly $8.0 million; motor vehicle/title tax was projected from $3.25 million to $3.5 million and electric franchise fees from $2.85 million to $3.1 million.
On millage, staff said the difference between the current millage (3.646) and the 3.492 rollback is about $1.0 million of levied tax; using standard collection assumptions the budget effect narrows to approximately $596,000. Staff described the current policy allocation for any excess revenue (60/15/15/10) and said accrual and tiered capital adjustments account for many of the decisions about what to include in a rollback-based budget.
