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Council sets proposed FY26–27 property tax rate at 0.56260 for required notice; vote is 3–2
Summary
The council voted 3–2 to set a proposed property tax rate of 0.56260 per $100 of valuation to begin required notices and hearings; staff said the final rate will be set in September and cannot be higher than the proposed number.
At the meeting the council voted to set the proposed property tax rate for fiscal year 2026–27 at 0.56260 per $100 of taxable valuation so the city can post required notices and schedule hearings.
Finance staff summarized the statutory choices: the current rate is 0.53870, the no-new-revenue rate is 0.53122, and the voter-approval threshold is 0.56264. "So that's it just has to be a roll call vote," staff member Kara told council before moving the proposal. Kara moved to set the proposed rate at 0.56260; a second was offered and a roll-call vote produced a 3–2 outcome in favor of posting the proposed rate. The council noted that the final tax rate will be set during the required September hearing and, by state rule, can only be lowered from the posted figure.
The motion to set the proposed rate carries the procedural effect of authorizing notice and hearings; the council did not finalize the levy or adopt a budget at the meeting. Staff said county numbers were provided as drafts and final documentation must be signed before posting the formal notice.
