Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Council reviews FY2027 budget and a proposed 10.3% property tax increase
Summary
City staff presented the FY2027 interim budget and a truth-in-taxation schedule that would raise roughly $476,300 (a 10.3% increase), with proposed one-time uses including a fire-truck set-aside, sidewalk and parks funding, and ADA and building repairs.
Peter presented the proposed FY2027 interim budget and the required truth-in-taxation schedule, telling the council the package included a proposed property tax increase: "that the tax increase would generate is about $476,300," and that "the rate is essentially a 10.3% tax increase." The staff estimate translated that change to about $68.06 per year for a homeowner with a $497,000 home and roughly $123.75 per year for a business of the same value.
Staff said much of the new recurring revenue would be dedicated to capital and fleet needs: $281,300 toward a fire truck replacement, an additional $50,000 for sidewalk work, $100,000 for parks capital improvements and $45,000 for the police fleet. The presentation also described several one-time needs proposed to be funded from fund balance, among them city-hall landscaping, an estimated $130,000 roof replacement and an ADA-entrance upgrade estimated at about $26,000. Staff told the council the general fund balance is approximately $13 million and that some portion is reserved for liabilities, but that the city is positioned to cover identified one-time needs.
The council scheduled the required truth-in-taxation public hearing for Aug. 4 at 6 p.m. at City Hall and asked staff to publish the updated budget materials and make copies available at least 10 days before that hearing.
